Detroit Casino Revenues Up 1.5% To $122M in April

The Michigan Gaming Control Board has released its April revenue figures for Detroit three casinos, revealing a slight 1.5% increase in business to $122.35 million compared to the same month in 2015. Detroit subsequently collected $9.9 million in gambling taxes last month.
Leading Detroit’s casino market in terms of revenues was the MGM Grand Detroit, whose 4,000 slots machines and 98 table games generated $50.5 million in April, higher by 2.7 percent from a year earlier. The casino hotel which opened in 2007 subsequently paid $4.087 million by way of gambling taxes.
Next highest was the MotorCity Casino Hotel, whose 2,800 slot machines and 59 table games produced $42.3 million in revenues, up 4.5 percent year-over-year. The casino resort which opened in 1999 then paid $3.43 million in state taxes.
Detroit’s third gambling venue, the Greektown Casino-Hotel with its 3,000 slot machines and range of table games collected $29.5 million in revenues in April, representing a 4.9 percent improvement year-over-year. The casino which opened in 2009 then paid $2.39 million in state taxes.
As a result, MGM Grand Detroit now controls a 41 percent share of Detroit’s casino market, followed by MotorCity with a 35 percent share, and Greektown with the remaining 24 percent.
In 2015, Detroit’s casino market generated $1.38 billion in revenues, a 3.3 percent improvement on the $1.33 billion collected in 2014. From that tally, MGM revenues increased by 3.7 percent to $582 million year-over-year; while Motor City revenues were up by 4.4 percent to $464.5 million, and Greektown revenues were higher by 1 percent to $329.9 million. The casinos then paid $111.5 million in gambling taxes to the state of Michigan in 2015, up 3.2 percent from the $108 million collected in 2014.
As a result, Detroit’s  three casinos now represent a significant source of funds for the city’s beleagured coffers, and currently account for around 16% of the its total revenues. It also provides employment for thousands of local residents, and as US Representative Brenda Lawrence (R-Michigan) commented recently:

“The greatest impact can be realized in jobs offered in a wide range of careers providing a path to the middle class for the residents of Detroit, as well as their mission-based philanthropic efforts.”

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