July Sports Betting Handle Down 25% At Detroit Casinos; Barstool Sportsbook Leads Foes
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In July, handle at Detroit casinos experienced a significant decline following a consistently successful streak in sports betting. This decrease of 25% from June can be attributed to a lack of major sporting events during the slower summer season.
Despite the full impact of the pandemic hitting Michigan in March 2020, the Detroit casinos experienced their highest monthly revenue.
In July, Greektown Casino, MGM Grand Detroit, and MotorCity Casino collectively accumulated $18.3 million in sports wagers. The month witnessed the conclusion of the NBA Finals, the commencement of the Tokyo Olympics, and an unexpectedly impressive performance by the Detroit Tigers in baseball, securing a seven-game winning streak.
The downtown casinos had wagered no less than $20.2 million, but also no more than $24.4 million per month from February to June.
The figures mentioned above do not encompass the bets placed on Michigan’s online sports betting platforms statewide. The Michigan Gaming Control Board will soon disclose the specific numbers for July, providing a comprehensive report.
In July, the casinos collected a revenue of $1.2 million from sports betting, resulting in $45,807 paid as state taxes and $55,987 paid as taxes to the city of Detroit.
July surge for Barstool Sportsbook in tight Detroit rivalry
The highest sports betting handle was recorded at Barstool Sportsbook at Greektown, amounting to $8.6 million, which accounted for 46.9% of the market share. BetMGM Sportsbook at MGM Grand came in second with $5.2 million and a market share of 28.3%, while FanDuel Sportsbook at MotorCity secured $4.5 million, representing a 24.7% share.
During the initial half of the year, FanDuel emerged as the leader in Detroit casino sports betting handle on three occasions, while Barstool and BetMGM took the lead twice and once respectively. In 2020, MGM Grand had consistently held the top position each month the casinos were operational. However, in July, Barstool caught up with FanDuel, resulting in both companies sharing the lead on the 2021 leaderboard with three months each.
FanDuel currently holds the top spot in the 2021 sports betting handle, raking in an impressive $59.6 million. However, the competition is fierce, with Barstool closely following at $57.8 million, and BetMGM not far behind with $53.4 million in wagers for the year.
| Licensee | Retail Handle | Revenue (GGR) | Promos | State Tax | Local Tax |
|---|---|---|---|---|---|
| Greektown | $8,575,885 | $437,203 | $0 | $16,526 | $20,199 |
| MGM Grand | $5,178,196 | $136,973 | $25 | $5,177 | $6,328 |
| MotorCity | $4,518,702 | $637,682 | $0 | $24,104 | $29,461 |
| Total | $18,272,783 | $1,211,857 | $25 | $45,807 | $55,987 |
In terms of total casino earnings, MGM Grand Detroit maintained its supremacy downtown, raking in $53.8 million in revenue. MotorCity secured second place with $38.5 million, while Greektown trailed in third with $23.4 million.
In July, the Detroit casinos experienced their most successful month since February 2020, generating a revenue of $115.7 million. This marked a 9.3% increase from June’s total of $105.8 million. February 2020 remains the highest recorded revenue at $121.8 million.
Although Michigan hosts numerous tribal casinos throughout the state that feature retail sportsbooks, it is not obligatory for them to disclose their retail figures to the MGCB.
First in-person MGCB meeting since pandemic
The release of Tuesday’s Detroit casino revenue numbers coincided with the regular meeting of the Michigan Gaming Control Board, marking the first in-person gathering since the beginning of the coronavirus pandemic.
Joni M. Thrower Davis, Linda Forte, and Deidre A. Lambert-Bounds, recently appointed by Gov. Gretchen Whitmer, have presided over their inaugural meeting as new board members of MGCB. They join Andrew Palms, who has been re-appointed for another term.
Richard Kalm, the former Executive Director of MGCB, was honored by the current Executive Director, Henry Williams, who read a resolution acknowledging his service. The meeting took place at MGCB headquarters located in Detroit’s New Center area, and Kalm was also in attendance.
