Detroit Casinos’ September Revenues Increase from Same Month Last Year
The Michigan Gaming Control Board (“MGCB”) released the revenue and wagering tax data for September 2012 for the three Detroit, Michigan, commercial casinos. The three Detroit commercial casinos posted a collective 0.2% increase in gaming revenues compared to the same month in 2011. Aggregate gross gaming revenue for the Detroit commercial casinos decreased, however, by approximately 2.4% compared to August 2012 revenue figures, continuing the trend of a similar decrease in revenues between August and September in prior years.
MGM Grand Detroit posted positive gaming revenue results for September 2012 as compared to the same month in 2011, with gaming revenue increasing by slightly more than 4.5%. MGM Grand Detroit continued to maintain the largest market share among the three Detroit commercial casinos and had total gaming revenue in September 2012 of approximately $50.8 million.
MotorCity Casino had monthly gaming revenue exceeding $35.5 million but posted a 7.5% decline in September 2012 compared to its September 2011 revenues. Greektown Casino posted a positive gaming revenue result with a 3.4% increase in total revenues and had gaming revenue of slightly less than $27.8 million for September 2012.