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Thursday, August 2, 2012

Detroit Casinos’ June Revenues Slightly Decrease Compared to June 2011

By Ryan M. Shannon

The Michigan Gaming Control Board (“MGCB”) released the revenue and wagering tax data for June 2012 for the three Detroit, Michigan, commercial casinos. The three Detroit commercial casinos posted a collective 1.6% decrease in gaming revenues compared to the same month in 2011. Aggregate gross gaming revenue for the Detroit commercial casinos also decreased by approximately 5.8% in June compared to May 2012 revenue figures, continuing a trend of similar declines from May to June in prior years.

MGM Grand Detroit posted decreased gaming revenue results for June 2012 as compared to the same month in 2011, with gaming revenue decreasing by less than half of 1%. MGM Grand Detroit continued to maintain the largest market share among the three Detroit commercial casinos and had total gaming revenue in June 2012 of over $47.3 million.

MotorCity Casino had monthly gaming revenue of nearly $37 million and posted a 0.2% increase in revenues in June 2012 compared to June 2011. Greektown had gaming revenue reaching nearly $27.3 million, a slight decrease compared to June 2011.