Detroit Casino Revenues Rise 0.7% to $1.38BN in 2016

The Michigan Gaming Control Board has released its casino results for Detroit, revealing a 6.8% revenue fall to $116.9 million in December 2016 compared to the same month last year. The city’s three casinos subsequently paid $9.5 million in gambling taxes, versus the $10.2 million that was collected in December of 2015.
Leading the market last month was MGM Grand Detroit which generated $50.93 million in revenues; followed by the MotorCity Casino Hotel with $39.52 million; and finally Greektown Casino with $26.44 million.
Combining all the casinos’ figures over the past 12 month, Detroit’s gambling market actually experienced a slight 0.7% annual increase in business to $1.385 billion, with the 2016’s positive result following a 3.3% increase in 2015 when revenues topped $1.38 billion. Detroit’s casinos subsequently paid the state of Michigan a total of $112.2 million in gambling taxes for 2016, as well as a further $175.5 million to Detroit city by way of wagering taxes and development agreement payments.
Breaking the figures down, MGM Grand Detroit saw its revenues improve by 1.7% to $592.1 million in 2016; while MotorCity Casino noted a slight 0.7% increase to $467.9 million. Greektown Casino, on the other hand, bucked the upward trend and returned a 1.3% revenue contraction to $325.9 million. As a result, GM Grand Detroit controlled a 43% of Detroit’s casino market in 2016; followed by MotorCity Casino (34%); and Greektown Casino (23%).
Detroit Casino Results:
2016: $1.385BN
2015: $1.38BN
2014: $1.33BN
2013: $1.34BN
2012: $1.42BN
2011: $1.42BN
2010: $1.37BN
2009: $1.33BN
Detroit’s casino market peaked in 2012 with revenues of $1.42 billion, but the very same year neighboring Ohio launched its own casino industry leading to a dramatic reversal in fortunes for Detroit. These days, Ohio boasts four land-based casinos, which together generated revenues of $797.94 million last year, down by 2% compared to 2015’s figure of $812.32 million.
While Detroit has three casinos, Michigan actually has 25 gambling venues spread out across the state, many of which are tribal owned. According to the Tribal-State Gaming Compact 2% of their net win has to be paid as taxes to local governments, which between 1994 and 2013 amounted to $350.1 million.