Detroit Casinos Post 2015 Revenue Increases

Sat, Jan 23, 2016

All three Detroit casinos posted revenue gains and a composite increase of 3.3 percent over 2014, according to the Michigan Gaming Control Board. MGM Grand (l.) revenue rose 3.7 percent to $582 million, MotorCity revenue grew by 4.4 percent to $464.5 million and Greektown revenue increased 1 percent to $329.9 million.

Revenue at Detroit’s three casinos—MGM Grand, Motor City and Greektown–increased 3.3 percent in 2015 compared to the previous year, not counting taxes or inflation, according to Michigan Gaming Control Board figures.

Leading the trio dollar-wise, MGM Grand posted revenue of $582 million, up 3.7 percent over 2014. MotorCity had the highest percentage increase at 4.4 percent at $464.5 million. And revenue at Greektown rose 1 percent to $329.9 million.

In addition, December revenue was up 15.4 percent over November. And compared to December 2014, MGM Grand again led with revenue of $55.8 million, up 11.4 percent. MotorCity’s December revenue rose 3.6 percent over December 2014 and Greektown revenue increased by 0.6 percent at $28.6 million.

The state of Michigan also collected more gaming taxes in 2015 as the three casinos paid $111.5 million in taxes compared to $108 million in 2014. And the city of Detroit took in $174.3 million for the year in wagering taxes and development agreement payments.

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