Revenue up for Detroit casinos
The state gaming board reported that during the second quarter of 2017 Detroit casinos increased revenues by 1.3 percent.
US.- The Michigan Gaming and Control Board revealed that Detroit’s three casinos collected US$354 million in aggregate revenue during the second quarter of the year, a 1.3 percent increase when compared to the same period in 2016.
Whilst the aggregate revenue for the last month of the second quarter was 4.1 percent up from the same month in 2016, it was also 5.7 percent down from May 2017. The three casinos in the city managed to achieve good results, with MotorCity Casino Hotel leading the ranking with US$37.9 million, a 5.7 percent increase, whilst Greektown Casino-Hotel follows closely with a 5.4 percent revenue hike to US$26.5 million. In third place comes MGM Grand Detroit, which managed to collect the biggest amount of revenue with US$48.6 million, but the smallest percentage, 2.2. Moreover, MGM also took 43 percent of the market share, as Crains Detroit Business reported.
The three facilities paid US$28.7 million in state gaming takes, US$400k more than in 2016. Furthermore, they reported US$42.4 million in wagering taxes and development agreement payments to Detroit during the three month period.
