Detroit Casino Revenue Up 1.7 Percent

Mon, Nov 27, 2017

According to the Michigan Gaming Control Board, Detroit's three casinos posted a 1.7 percent increase to $112.7 in total revenue for October 2016 compared to October 2016. Year-to-date revenue also grew, by 1.2 percent, to $1.17 billion versus October 2016. Compared to September 2017, October revenue fell 0.9 percent.

The Michigan Gaming Control Board recently released aggregate revenue figures for October 2017 from Detroit’s three casinos, indicating a 1.7 percent increase over October 2016 for total revenue of $112.7 million. Year-to-date total revenue was 1.2 percent higher than the same period in 2016 at $1.17 billion. October revenue dropped slightly less than 1.0 percent compared with September 2017.

At MGM Grand, revenue increased 2.2 percent to $48.4 million over October 2016. At MotorCity, revenue rose by 3.2 percent to $38.4 million compared with October 2016. At Greektown Casino, revenue fell 1.2 percent to $25.9 million compared with October 2016.

Market shares as of October 2017 are 43 percent for MGM Grand Detroit, 34 percent for MotorCity Casino and 23 percent for Greektown Casino.

Also during October 2017, the three Detroit casinos paid $9.1 million in gaming taxes to the state of Michigan, versus $9 million in October 2016. The city of Detroit received $13.9 million from the three casinos in wagering taxes and development agreement payments.

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