Detroit casinos post slight revenue increase
The three Michigan casinos located in Detroit posted a combined revenue increase of 0.7% when compared to the same period last year.
US.- The Michigan Gaming Control Board has released its latest financial report, indicating the casinos’ performances from the first eight months of 2019. The three facilities located in Detroit experienced a slight revenue increase of 0.7% during last month’s operations.
Monthly revenue totalled US$119.8 million in August, which is a 0.5% decrease when compared to the same month in 2018. However, when taken into account the first eight months of the year, the casinos generated US$974.3 million in revenue, a 0.7% rise.
MGM Grand Detroit experienced the biggest revenue increase in August with a 0.7% hike to US$53 million. MotorCity Casino Hotel reported a 0.4% increase to US$40 million, while Greektown Casino-Hotel reported a 4.2% decline to US$426.8 million.
Moreover, MGM also experienced the biggest share of the market in August with 44%. It was closely followed by MotorCity’s 34% share and Greektown’s 22%. The three facilities sent US$18.5 million in taxes and payments to the city in August.
The casinos posted a record in March
During March, the three venues posted a record US$140.3 million total aggregate revenue. The figure was up from the previous monthly record, set also 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.
