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Tuesday, April 2, 2013

Detroit Casinos’ February Revenues Decrease from Same Month Last Year


The Michigan Gaming Control Board (“MGCB”) released the revenue and wagering tax data for February 2013 for the three Detroit, Michigan, commercial casinos. The three Detroit commercial casinos posted a collective 13.67% decrease in gaming revenues compared to the same month in 2012. Aggregate gross gaming revenue for the Detroit commercial casinos increased, however, by approximately 4.8% compared to January 2013 revenue figures, continuing the increase in revenues between January and February in 2012.

MGM Grand Detroit posted lower gaming revenue results for February 2013 as compared to the same month in 2012, with gaming revenue decreasing by nearly 13.1%. MGM Grand Detroit continued to maintain the largest market share among the three Detroit commercial casinos and had total gaming revenue in February 2013 of approximately $46.5 million.

MotorCity Casino had monthly gaming revenue approaching $38.3 million, with revenues decreasing by more than 10.8% in February 2013 compared to February 2012. Greektown Casino posted an 18.4% decrease in revenues for February 2013 compared to the same month in 2012. Greektown had gaming revenue of more than $26.5 million for February 2013.