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April 23, 2014

Detroit Casinos’ July Revenues Increase from the Same Month Last Year

The Michigan Gaming Control Board (“MGCB”) released the revenue and wagering tax data for July 2013 for the three Detroit, Michigan, commercial casinos. The three Detroit commercial casinos posted a collective 0.3% increase in gaming revenues compared to the same month in 2012. Aggregate gross gaming revenue for the Detroit commercial casinos also increased by approximately 8.2% compared to June 2013 revenue figures, continuing a similar increase in revenues between June and July in prior years.

MGM Grand Detroit posted higher gaming revenue results for July 2013 as compared to the same month in 2012, with gaming revenue increasing by more than 5.5%. MGM Grand Detroit continued to maintain the largest market share among the three Detroit commercial casinos and had total gaming revenue in July 2013 of approximately $51.5 million.

MotorCity Casino had monthly gaming revenue in excess of $34.6 million, with revenues decreasing by less than 1.0% in July 2013 compared to July 2012. Greektown Casino had monthly gaming revenue of nearly $26.2 million and posted a 7.2% decrease in revenues for July 2013 compared to the same month in 2012.

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