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In 2021, Detroit’s retail casinos experienced a remarkable resurgence, witnessing a significant revenue surge that doubled their earnings from the pandemic-affected year of 2020.
They proved to have an exceptional roaring ability, rivaling the best in the nation.
On Wednesday, the American Gaming Association unveiled its annual State of the States report, revealing that Motown has climbed two spots to secure the eighth position among commercial gaming markets in the United States.
Despite operating under capacity limits for half of the year and implementing mask mandates for the majority of the time, MGM Grand Detroit, MotorCity Casino, and Greektown Casino (now Hollywood Casino at Greektown) achieved a remarkable revenue of $1.29 billion in retail casino and sports betting in the year. This figure represents a significant increase compared to the $650 million generated in 2020.
Detroit established as one of nation’s top gaming markets
The traditional gaming devices and table games at Detroit’s casinos generated a revenue of $1.27 billion, while their retail sportsbooks contributed $27.3 million in earnings.
The Las Vegas Strip continued to dominate as the leading gaming market in the nation, generating a staggering $7.05 billion in revenue. Following behind were Atlantic City, which brought in $2.57 billion, followed by Chicagoland with $2.01 billion, Baltimore-Washington D.C. with $2 billion, Gulf Coast, Miss. with $1.61 billion, New York City with $1.46 billion, and Philadelphia with $1.4 billion.
In the previous State of the States rankings, St. Louis and Boulder Strip, Nev. secured spots in the top 10, with St. Louis generating $1.03 billion and Boulder Strip, Nev. close behind at $967 million. Both markets surpassed Detroit in terms of revenue.
Online gaming does not seem to have slowed Detroit casinos
In 2019, the revenue generated reached a record-breaking $1.45 billion, surpassing the current total of $1.29 billion.
However, it is important to note that drawing a connection solely between the gap and the recent introduction of online casinos and online sportsbooks in the state of 2021 would be oversimplifying the situation and disregarding important contextual factors.
The primary factor that significantly influenced the situation for the past six months was the restrictions imposed during the pandemic, particularly the limitations on capacity. It is not expected that a definitive solution will be reached until the end of this year, and even then, it may not be certain as the state is experiencing a resurgence in Covid-19 cases.
However, the initial results for 2022 have been encouraging.
In April, Detroit’s casinos saw a revenue drop from over $120 million in March to $118.73 million, as reported by the Michigan Gaming Control Board on Tuesday.
The numbers are significantly higher than their 2021 equivalents and more closely resemble the figures observed in 2019.
Inside the Detroit retail casino revenue numbers
In April, MGM dominated the casino market, capturing a substantial 48% share with revenue totaling over $56.7 million. MotorCity trailed behind at 31%, generating $36.4 million, while Greektown accounted for 21% with $23.7 million.
In April, only MGM generated more revenue compared to March.
In April, Barstool Sportsbook at Greektown continued to dominate the retail sports betting market, maintaining its position as the frontrunner among all three retail books.
- The handle at Barstool at Greektown reached $15.1 million, while the qualified adjusted gross receipts (QAGR) amounted to $912,513.
- The FanDuel Sportsbook at MotorCity has recorded a handle of $4.5 million and a QAGR (Quarterly Adjusted Gross Revenue) of $552,841.
- The BetMGM Sports Lounge has recorded a handle of $4.7 million, along with a QAGR (Quarterly Adjusted Gross Revenue) of $405,385.
The sports betting handle for the month was $24.8 million, which was slightly lower than the previous month’s $26.4 million, but not significantly so.
