Detroit casinos post record revenue
Total aggregate revenue for Detroit casinos was US$140.3 million during March, a record for the local industry.
US.- The gaming segment continues to grow in the US and Detroit casinos just had a taste of it. During March, the three venues posted a record US$140.3 million total aggregate revenue, the Michigan Gaming Control Board said in a news release.
The figure was up from the previous monthly record, which was also set in March but in 2018, at US$138.6 million.
The MotorCity Casino Hotel, Greektown Casino-Hotel and MGM Grand Detroit saw a 1.3% revenue increase year-on-year. Furthermore, the figure jumped 22.5% when compared with February 2019. In the second month of the year, Detroit casinos had a 4.1% jump in aggregate revenue to a total of US$114.6 million.
MGM had record revenue in March, as it grew 1.9% to US$59.2 million. Greektown also jumped 2.6% to US$32 million, while MotorCity barely dropped 0.3% at US$49.1 million.
Furthermore, MGM had the highest market share at 42%, followed by MotorCity at 35% and Greektown at 23%. Altogether, the three Detroit casinos paid US$11.4 million in gaming taxes to the state during March. Moreover, they turned a further US$16.7 million in wagering taxes and development agreement payments to the city.
MGM Grand Detroit also led in the first quarter with a 3.9% increase in revenue at US$157.6 million. Greektown followed with US$84.2 million revenue (up 1.5%) and MotorCity was third at US$125.2 million (down 0.3%).
