Tuesday, May 1, 2012

Detroit Casinos' March Revenues Increase from Same Month Last Year

By Ryan M. Shannon

The Michigan Gaming Control Board released the revenue and wagering tax data for March 2012 for the three Detroit, Michigan commercial casinos. The three Detroit commercial casinos posted a collective 1.9% increase in gaming revenues compared to the same month in 2011. Aggregate gross gaming revenue for the Detroit commercial casinos also increased by approximately 5.0% in March compared to February 2012 revenue figures.

MGM Grand Detroit posted positive gaming revenue results for March 2012 as compared to the same month in 2011, with gaming revenue increasing by almost 5.0%. MGM Grand Detroit continued to maintain the largest market share among the three Detroit commercial casinos and had total gaming revenue in March 2012 of over $57.1 million.

MotorCity Casino had monthly gaming revenue exceeding $43.5 million and posted a 3.76% decrease in March 2012 compared to its March 2011 revenues, but improved slightly over its February 2012 revenues. Greektown had gaming revenue of over $34.6 million, approximating a 4.5% improvement over its March 2011 revenues.