Casino revenues fell in Detroit

Credits: detroityp.org

April reports from all three Detroit casinos show lower revenues in comparison with previous months.

US.- The Michigan Gaming Control Board released last Wednesday April’s reports on casino industry in Detroit. According to the official results, gaming revenues in all three existing casinos located in the city fell between 24 to 41 percent last month. Casino operators had announced a positive period during February activities, with a growth of 4.7 percent in comparison with January.

Crains Detroit published April casino report, which shows that the MGM Grand Detroit incomes fell 1.7 percent to US$49.6 million, representing the most relevant loss of the month. Meanwhile, MotorCity Casino Hotel revenues dropped a half percent to US$42.1 million and Greektown Casino-Hotel results showed a slight decline of 0.9 percent to US$29.3 million.

According to the Michigan Gaming Control Board’s statement, MGM Grand Detroit operations represented 41 percent of the market share in April, MotorCity had 35 percent and Greektown had 24 percent, as Crains Detroit reported.

In total, April casino revenues from the city are down 1.1 percent in comparison with April 2016, which reported a total gain of US$121 million in aggregate revenue. The three existing casinos in Detroit contributed to the city’s funds with US$14.4 million last month. Michigan’s government also received US$9.8 million from casino operations.