Final Week Pushes Michigan Sportsbooks Past $130M In Bets For 2020
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In order to conclude the inaugural year of sports betting in Michigan, the Detroit casinos resumed operations during 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 following the Michigan Gaming Control Board’s announcement of $9.7 million in wagers during the last week of December.
On November 18th, the casinos shut down temporarily, but they resumed operation in the days preceding Christmas, specifically on December 25th.
After Michigan sports betting launched, Detroit’s casinos closed on March 16, marking the second closure of the year. The closure, which lasted almost five months, ended in early August.
MotorCity, Greektown finish strong
In addition to that, the December figures also encompass a noteworthy ending at Greektown. The casino marked its reopening by revealing the all-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 most significant surge, with its FanDuel Sportsbook taking the lead in December handle, accumulating $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 the entirety of 2020, MGM did not dominate the sports betting handle market, except for this particular month.
In 2020, the retail sports betting industry in Detroit generated a total revenue of $18.3 million for the casinos. This resulted in tax revenue of over $844,000 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 be responsible for regulating all online sports betting in the state, including platforms that are affiliated with tribal casinos. However, these tribal casinos are not obligated to disclose their financial figures to the MGCB, despite having sportsbooks.
This implies that the 2021 figures will provide a more comprehensive view of the overall sports betting market in the state.
To stay updated with the online sports betting launch in Michigan, visit our live updates page for the most recent information.
Overall Detroit casino revenue took a huge 2020 hit
Aggregate revenue at Detroit’s casinos plummeted by 57.9% year-over-year, reaching approximately $639 million in total.
In 2020, the distribution of casino revenue shares was as follows:
- MGM Grand, 41%
- MotorCity, 36%
- Greektown, 23%
Due to COVID-19 health concerns, the casinos operated at limited capacity for nine days in December. Nonetheless, they managed to report a revenue of $23.9 million.
In addition, the board disclosed the financial figures for fantasy sports contests held in November. These contests generated a total revenue of $2.2 million, with an accompanying tax payment of over $188,000 to the state.
In yet another victory over its rival FanDuel, DraftKings emerged on top once again in the month of 2020, surpassing them with a revenue of $1.4 million. Meanwhile, FanDuel managed to secure more than $871,000 in revenue.
