Tuesday, October 9, 2012

Detroit Casinos’ August Revenues Increase Compared to Last Year

The Michigan Gaming Control Board (“MGCB”) released the revenue and wagering tax data for August 2012 for the three Detroit, Michigan, commercial casinos. The three Detroit commercial casinos posted a collective 1.6% increase in gaming revenues compared to the same month in 2011. Aggregate gross gaming revenue for the Detroit commercial casinos also increased by approximately 4.4% in August compared to July 2012 revenue figures, reversing a trend of decline from July to August in the prior year.

MGM Grand Detroit posted slightly increased gaming revenue results for August 2012 as compared to the same month in 2011, with gaming revenue increasing by less than 0.4%. MGM Grand Detroit continued to maintain the largest market share among the three Detroit commercial casinos and had total gaming revenue in August 2012 of nearly $49.8 million.

MotorCity Casino has monthly gaming revenue of over $38.1 million and posted less than a 0.2% increase in revenues in August 2012 compared to August 2011. Greektown had gaming revenue of nearly $29.1 million, a 5.8% increase compared to August 2011.