Detroit Casinos’ September 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 September 2013 for the three Detroit, Michigan commercial casinos. The three Detroit commercial casinos posted a collective 6.8% decrease in gaming revenues compared to the same month in 2012. Aggregate gross gaming revenue for the Detroit commercial casinos also decreased by approximately 5.8% compared to August 2013 revenue figures, continuing a pattern of decrease in revenues between September and August from prior years.

MGM Grand Detroit posted lower gaming revenue results for September 2013 as compared to the same month in 2012, with gaming revenue decreasing by more than 10.8%. MGM Grand Detroit continued to maintain the largest market share among the three Detroit commercial casinos and had total gaming revenue in September 2013 of approximately $45.3 million.

MotorCity Casino had monthly gaming revenue approaching $35.7 million, with revenues increasing by more than 0.4% in September 2013 compared to September 2012. Greektown Casino had monthly gaming revenue of nearly $25.4 million and posted an 8.6% decrease in revenues for September 2013 compared to the same month in 2012.

Topics:  Casinos, Detroit, Gambling, Gaming, Gaming Commissions, Revenue

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

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