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Tuesday, April 23, 2013

Detroit Casinos’ March Revenues Slightly Decrease from Same Month Last Year


The Michigan Gaming Control Board (“MGCB”) released the revenue and wagering tax data for March 2013 for the three Detroit, Michigan commercial casinos. The three Detroit commercial casinos posted a collective 0.42% decrease in gaming revenues compared to the same month in 2012. Aggregate gross gaming revenue for the Detroit commercial casinos increased, however, by approximately 21.1% compared to February 2013 revenue figures, continuing the increase in revenues between February and March in prior years.

MGM Grand Detroit posted lower gaming revenue results for March 2013 as compared to the same month in 2012, with gaming revenue decreasing by 5%. MGM Grand Detroit continued to maintain the largest market share among the three Detroit commercial casinos and had total gaming revenue in March 2013 of approximately $54.3 million.

MotorCity Casino had monthly gaming revenue approaching $45.8 million, with revenues increasing by nearly 5.1% in March 2013 compared to March 2012. Greektown Casino posted a 0.25% increase in revenues for March 2013 compared to the same month in 2012. Greektown had gaming revenue of nearly $34.7 million for March 2013.