Detroit’s Retail Sportsbooks Took A Loss To Bettors In February

Michigan sports bettors — at least those who made their bets in-person at the state’s three Detroit casinos — had a red letter February, actually winning money to the tune of $77,627.

Overall, Greektown Casino reported $114,814 in retail sports betting qualified adjusted gross receipts for February, while MGM recorded a $8,761 loss, and MotorCity had a $183,680 loss.

While the numbers aren’t broken down further, it is clearly a possibility that the sportsbooks took a hit on Super Bowl Sunday, which featured the victorious Tampa Bay Buccaneers defensive lineman Patrick O’Connor, an alum of Eastern Michigan University. (The game also featured quarterback Tom Brady of the underdog Bucs, who is a University of Michigan alum.)

Total handle for the month was $23,711,983, and the trio of Detroit casinos paid $4,340 in taxes to the state on retail sports betting during February. Additionally, they paid out $5,304 in retail sports betting taxes to the city of Detroit, according to the Michigan Gaming Control Board’s press release.

The total handle was down significantly from January, which was $35.68 million. It would seem obvious the retail numbers took a hit as a direct result of online sports betting coming to Michigan in late January. Numbers for February for the online sportsbooks are expected later this month.

Casino numbers remain steady

Meanwhile, on the table games and slots side, the three Detroit casinos — which were operating under 15% capacity limits due to COVID — reported $86.46 million in revenue for the month of February, which was nearly identical to the January numbers of $86.78 million, indicating online casinos haven’t taken a bite — at least not yet — out of the retail numbers.

That said, the overall February numbers were down 29% year-over-year, obviously a direct result of the pandemic.

For the month, the three Detroit casinos paid the state of Michigan $7 million in gaming taxes, and another $10.3 million in wagering taxes to the city of Detroit.

Market shares for the three casinos were as follows: MGM Grand Detroit, 40%; MotorCity Casino, 36%; and Greektown Casino, 24%.

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