Detroit Casinos Earn Over $105 Million in February with Increased Revenue
Detroit Casinos Earn Over $105 Million in February with Increased Revenue
The three casinos in Detroit, Michigan, reported a combined revenue of over $105 million in February, marking a significant increase from the previous month. The surge in revenue is attributed to the reopening of the casinos after a temporary shutdown due to the COVID-19 pandemic.
According to the Michigan Gaming Control Board, the three casinos – MGM Grand Detroit, MotorCity Casino Hotel, and Greektown Casino-Hotel – reported a total of $105.6 million in revenue for February 2021. This is a 9.7% increase from January 2021, when the casinos earned $96.2 million.
The revenue generated by the Detroit casinos in February was also higher than the same period last year, when the casinos earned $87.9 million. However, it is important to note that the casinos were closed for most of February 2020 due to the pandemic.
The MGM Grand Detroit was the highest earner among the three casinos, reporting a revenue of $44.8 million in February. This was followed by MotorCity Casino Hotel with $37.5 million and Greektown Casino-Hotel with $23.3 million.
The increase in revenue can be attributed to several factors, including the easing of COVID-19 restrictions and the reopening of the casinos. The casinos have implemented several safety measures to ensure the health and safety of their customers and employees, including mandatory mask-wearing, social distancing, and increased cleaning protocols.
Additionally, the casinos have also introduced new amenities and promotions to attract customers. For example, MGM Grand Detroit recently opened a new sports betting lounge, while MotorCity Casino Hotel introduced a new loyalty program.
The increase in revenue is good news for the city of Detroit, as the casinos are a significant source of revenue for the city. The three casinos pay a combined 8.1% tax on their gross gaming revenue to the city, which amounted to $7.7 million in February.
Overall, the increase in revenue for the Detroit casinos is a positive sign for the industry and the city as a whole. As COVID-19 restrictions continue to ease and more people feel comfortable returning to public spaces, it is likely that the casinos will continue to see an increase in revenue in the coming months.