$16.3 Million Wagered On Sports Betting At Detroit Casinos In August As Summer Slowdown Wears On
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In July, the lowest monthly handle for the year 2021 was recorded in Detroit casinos, only to witness a further decline in August. The retail sports betting figures dropped by 10.9%, with a total of $16.3 million wagered throughout the month.
In the event of a silver lining, things are expected to improve from this point onwards.
The presence of preseason NFL football and some regular-season college football contributed to the growth of sports betting in Michigan throughout the month, and this trend is expected to continue in September with football season in full swing. The Tokyo Olympics also had a minor impact on betting activity during July and August, but it did not significantly influence the overall performance of the industry.
Greektown Casino’s Barstool Sportsbook takes more than half of Detroit sports bets in August
In August, Barstool Sportsbook at Greektown Casino dominated the sports betting scene in Detroit, taking in $8.8 million in wagers and securing a 54.0% market share. Following closely behind was BetMGM Sportsbook at MGM Grand Detroit, with $4.3 million in bets accounting for a 26.5% share. FanDuel Sportsbook at MotorCity Casino claimed the third spot, amassing $3.2 million in bets and holding a 19.4% market share.
| Licensee | Retail Handle | Revenue (GGR) | Promos | State Tax | Local Tax |
|---|---|---|---|---|---|
| Greektown | $8,796,603 | $565,432 | $0 | $21,373 | $26,123 |
| MGM Grand | $4,329,630 | $850,474 | $0 | $32,203 | $39,359 |
| MotorCity | $3,161,937 | $232,675 | $0 | $8,795 | $10,750 |
| Total | $16,288,170 | $1,648,581 | $0 | $62,371 | $76,231 |
Greektown has once again dominated the Detroit sports betting field for the second consecutive month. In July, Barstool at Greektown took the lead with an impressive 46.9% market share. These figures are significant in a fiercely competitive retail market in Michigan.
In August, MGM Grand experienced a significant increase in its hold on sports bets, jumping from a mere 2.6% in July to an impressive 19.6%. On the other hand, MotorCity maintained a 7.4% hold, while Greektown held onto 6.4% of sports bets during the same period.
Unlike an increasing number of their Michigan tribal casino counterparts, Detroit casinos did not mandate the use of masks over the summer.
In August, the city of Detroit received $76,231 in taxes from sports betting, while the state received $62,371. These contributions bring the total tax revenue for the city and state in 2021 to $720,579 and $589,565, respectively.
The Michigan Gaming Control Board does not incorporate sports betting wagers made at tribal casinos statewide in their totals. No requirement exists to disclose their retail figures.
The online sports betting numbers for August are expected to be released soon. As of the end of July, a total of $1.69 billion had been wagered on sports online in Michigan since the launch on January 22nd.
MGM Grand still leads overall casino revenue
In August, the Detroit casinos witnessed a significant surge in their overall casino revenue, amounting to $112.2 million. This marks a remarkable increase of 61.7% compared to the same period last year, when the coronavirus pandemic was at its peak. However, August 2021 experienced a slight decline of 6.4% when compared to August 2019, during which the revenue reached $119.8 million.
MGM Grand recorded a monthly gaming revenue of $52.4 million, representing a significant market share of 47%. MotorCity achieved a revenue of $36.5 million, accounting for a 32% share, while Greektown generated $23.4 million, contributing to a 21% market share.
