Wednesday, May 30, 2012

Detroit Casinos’ April Revenues Slightly Decrease

By Ryan M. Shannon

The Michigan Gaming Control Board released the revenue and wagering tax data for April 2012 for the three Detroit, Michigan, commercial casinos. The three Detroit casinos posted a collective 1.59% decrease in gaming revenues compared to the same month in 2011. Aggregate gross gaming revenue for the Detroit casinos also decreased by approximately 8.85% in April compared to March 2012 revenue figures, continuing a trend of similar decline from March to April in prior years.

MGM Grand Detroit posted slightly decreased gaming revenue results for April 2012 as compared to the same month in 2011, with gaming revenue decreasing by less than 0.1%. MGM Grand Detroit continued to maintain the largest market share among the three Detroit casinos and had total gaming revenue in April 2012 of over $52.1 million. MotorCity Casino had monthly gaming revenue exceeding $39.3 million and posted a 5.2% decrease in revenues. Greektown, however, had gaming revenue of nearly $31.9 million, improving on its April 2011 revenues by nearly 1%.