July Sports Betting Handle Down 25% At Detroit Casinos; Barstool Sportsbook Leads Foes

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In July, there was a significant decline in sports betting handle at Detroit casinos compared to the previous months. This decrease of 25% can be attributed to the lack of major sporting events during the slow summer season.

Despite the full force of the pandemic hitting Michigan in March 2020, the Detroit casinos experienced their highest monthly revenue overall.

In July, Greektown Casino, MGM Grand Detroit, and MotorCity Casino collectively accumulated $18.3 million in sports bets. The month encompassed the conclusion of the NBA Finals, the commencement of the Tokyo Olympics, and the pleasantly surprising performance of the Detroit Tigers in baseball, as they achieved a remarkable seven-game win streak.

During the period from February to June, the downtown casinos amassed a minimum of $20.2 million and a maximum of $24.4 million in bets within a single month.

The figures mentioned above do not incorporate the bets placed on online Michigan sports betting platforms throughout the state. The Michigan Gaming Control Board will soon release the complete data for July, which will encompass these totals as well.

The casinos generated $1.2 million in revenue from sports betting in July, resulting in $45,807 paid to the state as taxes and $55,987 paid to the city of Detroit as taxes.

July surge for Barstool Sportsbook in tight Detroit rivalry

Barstool Sportsbook at Greektown emerged as the leader in sports betting handle, capturing $8.6 million, accounting for a significant 46.9% market share. It surpassed BetMGM Sportsbook at MGM Grand, which recorded $5.2 million, representing a 28.3% market share, and FanDuel Sportsbook at MotorCity, which secured $4.5 million, equivalent to a 24.7% share.

In the first half of the year, FanDuel dominated the Detroit casino sports betting handle for a total of three times, while Barstool took the lead twice, and BetMGM once. Throughout 2020, MGM Grand held the top position each month the casinos were operational. However, in July, Barstool caught up with FanDuel, both securing the top spot on the 2021 leaderboard for three months each.

In terms of the 2021 sports betting handle, FanDuel is leading with a total of $59.6 million. However, the competition for the top spot remains intense. Barstool follows closely behind with $57.8 million, while BetMGM has accumulated $53.4 million in bets throughout the year.

MGM Grand Detroit continued to reign as the dominant force in downtown casinos, earning an impressive $53.8 million in revenue. MotorCity secured the second position with $38.5 million, while Greektown claimed the third spot with $23.4 million.

In July, Detroit casinos recorded their highest monthly revenue since February 2020, raking in $115.7 million. This marks a 9.3% increase from the previous month’s total of $105.8 million.

In Michigan, numerous tribal casinos throughout the state operate retail sportsbooks, but they are exempt from reporting their retail figures to the MGCB.

First in-person MGCB meeting since pandemic

The regular meeting of the Michigan Gaming Control Board, the first one held in person since the start of the coronavirus pandemic, was followed by the release of Tuesday’s revenue numbers for Detroit casinos.

Joni M. Thrower Davis, Linda Forte, and Deidre A. Lambert-Bounds, the newly appointed members of the MGCB board, recently conducted their inaugural meeting after being appointed by Gov. Gretchen Whitmer last month. They join Andrew Palms, who has been re-appointed for another term.

During the meeting at MGCB headquarters in Detroit’s New Center area, MGCB Executive Director Henry Williams took the opportunity to acknowledge and honor his predecessor Richard Kalm’s tenure by reading a resolution. Notably, Kalm himself was present at the meeting.

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