Detroit Casino Revenues Up 3.2% in July

admin, August 11, 2016 10:20 am

The Michigan Gaming Control Board has released its casino results for July, revealing a slight 3.2% increase in revenues to $118.5 million compared to the same month last year. The City of Detroit subsequently received $14.1 million in gambling taxes, with a further $9.6 million collected by the midwestern state of Michigan.
In July, all three of Detroit’s commercial casinos posted year-on-year revenues increases, with MGM Grand Detroit up 3% to $50.2 million; MotorCity Casino Hotel up 4.7% to $40.6 million; and Greektown Casino-Hotel up 1.5% to $27.7 million.
November 2014 marked one of the darkest chapters in the history of Detroit, after the City went bankrupt owing $18.5 billion in debts, and the unemployment rate soared to around 15%. The Michigan State Financial Review Commission was subsequently tasked with running Detroit’s monetary affairs until 2027 in order to avoid another financial disaster.
Against this backdrop, Detroit’s casino industry has proved instrumental in the City’s recovery, and currently accounts for around 16% of total local revenues. Nevertheless, the once bustling city is still but a shell of its former self, and this week whilst talking at the Detroit Economic Club, Donald Trump harked back to its glory days, stating:
“Detroit was once the economic envy of the world. When we were governed by an “America first” policy, Detroit was booming. Engineers, builders, laborers, shippers and countless others went to work each day, provided for their families, and lived out the American Dream. But for many living in this city, that dream has long ago vanished.”
While Detroit casino revenues were up in July, the same could not be said about Ohio, its southern neighboring across Lake Erie. Last month, the state’s four casinos generated just $66.1 million in revenues, down by 5% versus July 2015. One of those venues, Cleveland’s Jack Casino, posted a 12% in July, with the drop mostly blamed on a lack of available parking as a result of the Republican National Convention (RNC) that month.

Poker News
Spanish Online Poker Revenue Jumps 27% in Q1
Spanish Online Poker Revenue Jumps 27% in Q1
03 Jun 2018
In January, Spain and France started pooling their online poker players in an attempt to revive an industry decimated by the ring-fenced policies adopted by their respective governments. If they were ever in any doubt as to the validity of their move, the results for the first three months of 2018 will certainly have allayed
Japan Introduces Responsible Gambling Bill
Japan Introduces Responsible Gambling Bill
28 May 2018
Japan’s bicameral legislature, known as The National Diet, consists of an upper House of Councillors and a lower House of Representatives, with the latter having started discussing the Integrated Resorts Implementation Bill last week. Being debated is the regulatory framework required in order to set up an efficient and well functioning casino market in the
Ohio Casino Revenue Up 1% to $71.8m in April
Ohio Casino Revenue Up 1% to $71.8m in April
17 May 2018
The Ohio Casino Control Commission has released its gambling results for April, with the state’s four casinos collecting $71.8 million last month, up by almost 1% compared to the prior year. Meanwhile, the Buckeye State’s seven racinos fared considerably better, with their revenue rising by 8% to $89.7 million from their slots and video gaming
NJ Generates Record iGaming Revenues in February
New Jersey iGaming Market Posts Second-Highest Month in April
15 May 2018
In April, New Jersey’s online gambling market saw its revenue rise by 10.6% to $23 million versus the same month in 2017, with the amount posted second only to the record $25.6 million collected in March 2018. As a result, the Garden State has now generated $92.5 million over the first four months of this