Detroit Casinos’ October Revenue Drop Slightly

Detroit Casinos' October Revenue Drop Slightly

Detroit Casino revenues have slipped slightly for October. The two casinos in Detroit, Greektown Casino-Hotel and MGM Grand Detroit moderately underperformed in October which resulted in a decline in overall revenue from the three casinos.

According to the figures released by the Michigan Gaming Control Board, the revenue from three casinos in Detroit dropped 0.3 percent year-over-year to $115.7 million. The revenue increased by 3 percent when compared with the previous month this year.

MGM Grand posted a decline of 1.8 percent as it posted a revenue of $48.9 million. The revenue at the Greektown gambling facility dropped 0.4 percent to $27.5 million. The MotorCity casino posted an increase in revenue – its revenue grew by 1.9 percent to $39.3 million.

The market share of the three casinos Greektown Casino-Hotel, MGM Grand Detroit and MotorCity was 24 percent, 42 percent, and 34 percent respectively.

The state took $9.37 million in state gaming taxes and $14.3 million in wagering taxes and development agreement payments to the city of Detroit in October.

Earlier in the year in June, the aggregate revenue generated from three Detroit casinos slipped for the first time in 2019. The Greektown Casino-Hotel, MGM Grand Detroit and MotorCity Casino Hotel made $117.5 million in aggregate revenue in June. It is a 1.4 percent decline from the revenue generated for the same period the previous year.

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