Thursday, June 28, 2012

Detroit Casinos’ May 2012 Revenues Slightly Decrease

By Ryan M. Shannon
The Michigan Gaming Control Board (MGCB) recently released the May revenue data for the three Detroit, Michigan, commercial casinos. The casinos posted a collective 1.4% decrease in gaming revenues compared to the same month in 2011. Aggregate gross gaming revenue for the Detroit commercial casinos also decreased by approximately 4.0% in May compared to April 2012 revenue figures, continuing a trend of similar decline from April to May in prior years.

MGM Grand Detroit posted slightly increased gaming revenue results for May 2012 as compared to the same month in 2011, with gaming revenue increasing by just over 1%. MGM Grand Detroit continued to maintain the largest market share among the three Detroit commercial casinos and had total gaming revenue in May 2012 of over $51.7 million.

MotorCity Casino had monthly gaming revenue of nearly $37 million and posted a greater than 4.7% decrease in revenues in May 2012 compared to May 2011. Greektown had gaming revenue exceeding $29.7 million, with a slight decrease in May 2012 revenues of less than 1.1% compared to the same month in the prior year.