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Thursday, December 27, 2012

Detroit Casinos’ November Revenues Decrease From Last Year


The Michigan Gaming Control Board (“MGCB”) released the revenue and wagering tax data for November 2012 for the three Detroit, Michigan, commercial casinos. The three Detroit commercial casinos posted a collective 1.95% decrease in gaming revenues compared to the same month in 2011. Aggregate gross gaming revenue for the Detroit commercial casinos increased, however, by approximately 1.7% compared to October 2012 revenue figures.

MGM Grand Detroit posted lower gaming revenue results for November 2012 as compared to the same month in 2011, with gaming revenue decreasing by slightly more than 2.4%. MGM Grand Detroit continued to maintain the largest market share among the three Detroit commercial casinos and had total gaming revenue in November 2012 of approximately $47.8 million.

MotorCity Casino had monthly gaming revenue approaching $38.5 million, with revenues increasing by nearly 2.1% in November 2012 compared to November 2011. Greektown Casino posted a 6.48% decrease in revenues for November 2012 compared to the same month in 2011, but it remains on pace to improve on its overall 2011 annual revenues. Greektown had gaming revenue of slightly more than $26.5 million for November 2012.