Tuesday, December 3, 2013

Detroit Casinos’ October Revenues Decrease from Same Month Last Year

By Ryan M. Shannon

The Michigan Gaming Control Board (“MGCB”) released the revenue and wagering tax data for October 2013 for the three Detroit, Michigan, commercial casinos. The three Detroit commercial casinos posted a collective 4.2% decrease in gaming revenues compared to the same month in 2012. Aggregate gross gaming revenue for the Detroit commercial casinos in October held steady compared to September 2013 figures.

MGM Grand Detroit posted lower gaming revenue results for October 2013 as compared to the same month in 2012, with gaming revenue decreasing by 2.2%. MGM Grand Detroit continued to maintain the largest market share among the three Detroit commercial casinos and had total gaming revenue in October 2013 of approximately $46.3 million.

MotorCity Casino had monthly gaming revenue approaching $35.1 million, with revenues decreasing by more than 2.6% in October 2013 compared to October 2012. Greektown Casino had monthly gaming revenue in excess of $24.9 million and posted a 9.6% decrease in revenues for October 2013 compared to the same month in 2012.