Detroit Casinos’ April Revenues Decrease from Same Month Last Year

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The Michigan Gaming Control Board (“MGCB”) released the revenue and wagering tax data for April 2014 for the three Detroit, Michigan commercial casinos. The three Detroit commercial casinos posted a collective 6.5% decrease in gaming revenues compared to the same month in 2013. Aggregate gross gaming revenue for the Detroit commercial casinos in April also decreased by 10.1% compared to March, continuing a trend of decrease between March and April in prior years.
 
MGM Grand Detroit posted decreased gaming revenue results for April 2014 as compared to the same month in 2013, with gaming revenue decreasing by 4.1%. MGM Grand Detroit continued to maintain the largest market share among the three Detroit commercial casinos and had total gaming revenue in April 2014 of approximately $47 million.
 
MotorCity Casino had monthly gaming revenue exceeding $38.2 million, with revenues decreasing by 3.8% in April 2014 compared to April 2013. Greektown Casino had monthly gaming revenue of nearly $27.1 million, showing a 13.6% decrease in revenues for April 2014 compared to the same month in 2013.

 


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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