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Thursday, March 6, 2014

Detroit Casinos’ January 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 January 2014 for the three Detroit, Michigan, commercial casinos. The three Detroit commercial casinos posted a collective 9.5% decrease in gaming revenues compared to the same month in 2013. Aggregate gross gaming revenue for the Detroit commercial casinos in January also decreased by 10.3% compared to December 2013, continuing a trend of decrease between December and January in prior years.

MGM Grand Detroit posted lower gaming revenue results for January 2014 as compared to the same month in 2013, with gaming revenue decreasing by 8.5%. MGM Grand Detroit continued to maintain the largest market share among the three Detroit commercial casinos and had total gaming revenue in January 2014 of approximately $41.2 million.

MotorCity Casino had monthly gaming revenue exceeding $31.7 million, with revenues decreasing by 9.7% in January 2014 compared to January 2013. Greektown Casino had monthly gaming revenue in excess of $23.1 million and posted an 11.2% decrease in revenues for January 2014 compared to the same month in 2013.