Casino revenue decline delivers wallop to Detroit tax collection

Casino revenue decline delivers wallop to Detroit tax collection

Detroit casino revenue plunged 59.3% through the end of June as doors continue to remain closed amid the COVID-19 pandemic.

First closed on March 16, the three casinos — MGM Grand Detroit, MotorCity Casino and Greektown Casino — have struggled to book revenue during the continuing lockdown because of state mandates.

MGM Grand is down 40% year-to-date through June when compared to revenue of 2019, falling to $126.5 million from $315.1 million. Similarly, MotorCity slid 41% to $102.6 million from $250.5 million. And Greektown revenue slipped 41% to $70.1 million from $169.8 million.

The revenue losses by the three casinos also are slamming casino wagering taxes collected by the city, yielding only $35.6 million through the first half of this year compared to $87.5 million in the first six months of 2019. As the casinos continue to suffer, so does a major source of the city’s tax revenue.

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