Detroit Casinos’ August Revenues Decrease From Same Month Last Year

more+
less-
more+
less-

The Michigan Gaming Control Board (“MGCB”) released the revenue and wagering tax data for August 2013 for the three Detroit, Michigan, commercial casinos. The three Detroit commercial casinos posted a collective 3.45% decrease in gaming revenues compared to the same month in 2012. Aggregate gross gaming revenue for the Detroit commercial casinos increased by approximately 0.5% compared to July 2013 revenue figures, continuing the trend of an increase in revenues between July and August in prior years.

MGM Grand Detroit posted lower gaming revenue results for August 2013 as compared to the same month in 2012, with gaming revenue decreasing by about 4.8%. MGM Grand Detroit continued to maintain the largest market share among the three Detroit commercial casinos and had total gaming revenue in August 2013 approaching $47.4 million.

MotorCity Casino had monthly gaming revenue of nearly $38.7 million, with revenues increasing by more than 1.5% in August 2013 compared to August 2012. Greektown Casino had monthly gaming revenue exceeding $26.8 million and posted a 7.7% decrease in revenues for August 2013 compared to the same month in 2012.

Topics:  Casinos, Gambling, Gaming Commissions, Revenue

Published In: Art, Entertainment & Sports Updates, General Business Updates

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.

© Dickinson Wright | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »