Detroit casino revenues drop 42% for the month of August

Posted:: Sep 16, 2020 14:09 Category: Land-Based , Americas , Posted by Maria

Detroit’s three casinos have reported monthly aggregate revenue of $69.3 million after reopening earlier in the month

The three casinos in Detroit have collectively generated $69.3 million in August, their first month back in operation following their state-ordered shutdowns since the start of the pandemic on March 16. 

MotorCity and Greektown have reopened on Aug 5 and MGM Grand Detroit on Aug. 7. – with the resumption of operations of all three Detroit casinos ordered by Gov. Gretchen Whitmer.

Whitmer’s guidelines include, along with the 15 percent occupancy, venues needing to require daily entry screening protocols, temperature screening, face coverings for employees and customers, slot machines reconfigured to promote social distancing, table games equipped with plexiglass dividers, availability of hand sanitizer and disinfecting wipes and heightened cleaning protocols. In addition, smoking is banned on casino floors poker rooms are banned. 

A Guide to DetroitThe city’s casino revenues plummeted more than 50% due to the COVID-19 shutdown, with the year-to-date revenue reported last year of $617.9 million, only $299.2 million was brought by the three casinos during the lockdown. However, officials were pleased with the roughly 25-day performance.  

We are cautiously optimistic,” David Massaron, the city’s chief financial officer, told The Detroit News. “We are trending ahead of where we are in terms of the monthly forecast, but we don’t know what that portends for the year as a whole.” 

“We don’t know if that is pent-up demand, or if it is the beginning of the upward ramp-up,” he added. 

MGM gained the most, with revenues amounting to $28.63 million in August despite being open two less days, MotorCity came second at $25 million, and Greektown placing third at $15.68 million. 

The state collects 8.1 percent of each gaming property’s casino win, while the city receives 10.9 percent. 

Moreover, MotorCity and Greektown are planning to welcome back poker players by opening their rooms as early as this week. 

An email sent this week from MotorCity read, “Detroit’s best Poker Rooms reopens next week!” and Greektown said it will have its poker room “back up in a few weeks.” 

However, the Michigan Gaming Control Board (MGCB) has yet to issue health safety directives for casinos reopening their poker rooms. 

SiGMA Americas:

Following the successful launch of SiGMA Europe (Malta) and SiGMA Asia (Manila), we’re now launching the inaugural SiGMA AMERICAS, covering all three major timezones. The inaugural edition is set for September 22-24, 2020 with a virtual summit focusing on two themes: SiGMA AMERICAS for the Gaming industry and AIBC AMERICAS for the Emerging Tech industry. We wanted to provide fresh content, to help you navigate through these turbulent times. If you’re exploring Americas as a new frontier or wondering which tech solutions to embrace, we’ve got you covered: tune in on September 22-24, 2020.

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