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In order to conclude the inaugural year of sports betting in Michigan, the Detroit casinos resumed their operations for the last week of 2020.
A total of $130,763,497.53 was bet on sports at Greektown Casino, MGM Grand Detroit, and MotorCity Casino in 2020. This figure was determined by the Michigan Gaming Control Board, which reported $9.7 million in wagers for the last week of December, concluding the year.
On November 18th, the casinos shut down, but in the days preceding Christmas, specifically on December 25th, all three of them resumed their operations.
After Michigan sports betting was launched, Detroit’s casinos closed on March 16, marking the second closure of the year. This closure lasted for nearly five months until early August.
MotorCity, Greektown finish strong
In addition, the December figures showcase a remarkable conclusion at Greektown, as it celebrated its reopening by introducing the brand-new permanent Barstool Sportsbook.
Greektown’s market share increased to 21.8% in December, compared to its previous share of 20.6% achieved during the late December reopening.
MotorCity experienced the largest surge, with its FanDuel Sportsbook leading in December handle by collecting $4.7 million in bets, surpassing MGM Grand’s $2.9 million.
| Licensee | Handle | Revenue | State Tax | Local Tax |
|---|---|---|---|---|
| MGM Grand | $2,872,394 | $776,788 | $29,363 | $35,888 |
| MotorCity | $4,721,663 | $646,003 | $24,419 | $29,845 |
| Greektown | $2,126,336 | $460,449 | $17,405 | $21,273 |
| Grand Traverse | ? | ? | $0 | $0 |
| Hannahville | ? | ? | $0 | $0 |
| Little River | ? | ? | $0 | $0 |
| Little Traverse Bay | ? | ? | $0 | $0 |
| Match-E-Be-Nash-She-Wish | ? | ? | $0 | $0 |
| Pokagon | ? | ? | $0 | $0 |
| Sault Ste. Marie | ? | ? | $0 | $0 |
| Total | $9,720,393 | $1,883,240 | $71,186 | $87,006 |
In 2020, MGM dominated the sports betting market every month except for this one.
In 2020, the retail sports betting industry in Detroit generated a revenue of $18.3 million for the casinos. Additionally, it contributed over $844,000 in tax revenue for the city and more than $690,000 for the state of Michigan.
| Casino | Handle | Revenue | State tax (3.78%) | City of Detroit tax (4.62%) |
|---|---|---|---|---|
| Total | $166,447,691.29. | $22,339,974.96 | $844,451.05 | $1,032,106.84 |
| MGM Grand Detroit | $68,722,968.50 | $9,029,186.40 | $341,303.25 | $417,148.42 |
| MotorCity Casino | $61,496,308.00 | $7,596,247.30 | $287,138.15 | $350,946.62 |
| Greektown Casino-Hotel | $36,228,414.79 | $5,714,541.26 | $216,009.66 | $264,011.81 |
What’s next for Michigan sports betting?
The MGCB will have the authority to regulate all online sports betting platforms in the state, including those that are affiliated with tribal casinos. Although several tribal casinos in the state offer sportsbooks, they are not required to disclose their financial figures to the MGCB.
This implies that the 2021 figures will provide a more complete overview of the entire sports betting market in the state.
To stay updated on the online sports betting launch in Michigan, visit our live updates page.
Overall Detroit casino revenue took a huge 2020 hit
Detroit’s casinos experienced a significant decline in year-over-year revenue, with a staggering 57.9% decrease compared to the previous year. The total aggregate revenue for the period amounted to nearly $639 million.
In 2020, the distribution of casino revenue shares were as follows:
- The MGM Grand has a 41% rate.
- MotorCity accounts for 36% of the total.
- The percentage of Greektown is 23.
Despite operating at limited capacity for only nine days due to COVID-19 health concerns, the casinos still managed to report a revenue of $23.9 million for the month of December.
In addition, the board disclosed the financial results for fantasy sports contests in November, amounting to $2.2 million in revenue and over $188,000 in state taxes paid.
DraftKings continued its dominance over rival FanDuel, surpassing it once again in the latest month of 2020. With a revenue of $1.4 million, DraftKings outperformed FanDuel’s earnings of over $871,000.
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