Casino revenue decreases in Detroit
The revenue from June operations was the first decrease that Detroit posted this year.
US.- The Michigan Gaming Control Board released this week the report that details the financial performance of Detroit casinos in June. Last month’s results represent the first decrease in revenue for Detroit casinos in 2019.
The Greektown Casino-Hotel, MGM Grand Detroit and MotorCity Casino Hotel registered US$117.5 million in aggregate revenue last month. This represents a 1.4% decrease from the revenue aggregated that Detroit registered during the same period last year.
Moreover, the revenue from June is also 6.6% down month-over-month. The local regulator said that despite these results, the aggregate revenue for the three facilities during the first six months was slightly higher than in 2018. Aggregate revenue for the second quarter of the current year increased 0.2% to US$368.4 million.
Greektown Casino-Hotel was the facility that reported the biggest decrease in revenue, as it fell 2.8% year-on-year to US$26.9 million. MGM’s was down 2.2% to US$50.7 million, while MotorCity was the only facility that registered positive results in June. The casino posted a 0.7% year-on-year rise to US$39.9 million.
Detroit casinos experience excellent 2018
The three casinos in Detroit reported US$1.44 billion in annual revenue. The figure is US$20 million higher than the previous annual record set in 2011, when they totalled US$1.42 billion.
Two of the three facilities located in Detroit also posted annual records individually. MGM Grand Detroit reported US$619.2 million in annual revenue, US$15 million higher than the previous record set in 2012. MotorCity Casino also posted record annual revenue of US$489.7 million, up by US$9 million from the 2007 record of US$480 million. On the other hand, Greektown Casino’s 2018 revenue totalled US$335.2 million, which falls short of the US$352.8 million record set in 2011.
