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Tuesday, April 1, 2014

Detroit Casinos’ February 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 February 2014 for the three Detroit, Michigan commercial casinos. The three Detroit commercial casinos posted a collective 0.6% decrease in gaming revenues compared to the same month in 2013. Aggregate gross gaming revenue for the Detroit commercial casinos in February increased, however, by 15.2% compared to January, continuing a trend of increase between January and February in prior years.

MGM Grand Detroit posted higher gaming revenue results for February 2014 as compared to the same month in 2013, with gaming revenue increasing by 2.4%. MGM Grand Detroit continued to maintain the largest market share among the three Detroit commercial casinos and had total gaming revenue in February 2014 of approximately $47.6 million.

MotorCity Casino had monthly gaming revenue exceeding $37.2 million, with revenues decreasing by 2.7% in February 2014 compared to February 2013. Greektown Casino had monthly gaming revenue of nearly $25.8 million and posted a 2.9% decrease in revenues for February 2014 compared to the same month in 2013.