Detroit Casinos Up 1.3% to $113.6M in September

Detroit’s monthly gambling figures have been released, with the state’s three casinos having generated revenues of $113.6 million in September, up by 1.3% compared to the same month in 2016. The city of Detroit subsequently collected $18 million by way of wagering taxes and development agreements, with a further $9.2 million in gambling taxes funnelled towards Michigan state coffers.
Leading the market in terms of growth last month was MotorCity, whose revenue increased by 3.8% to $38.4 million, followed by Greektown up 2.1% to $27.2 million. MGM Grand, on the other hand, reported a 1% drop off in its year-on-year business to $48 million. As a result, MGM commanded a 42% share of Detroit’s casino market in September, with MotorCity maintaining a 34% share, and Greektown the remaining 24%.
Detroit’s casino market generated a combined total of $344.1 million for the third quarter of 2017, representing a slight 0.7% decline versus the same quarter in 2016. The only venue seeing its revenue improve in Q3 was the MotorCity Casino Hotel, which reported y-o-y growth of 1.6% to $117.3 million during the quarter. Seeing their Q3 revenues dip, however, was MGM Grand down by 2% to $147.1 million, and Greektown Casino-Hotel down by 1.7% to $79.7 million.
Meanwhile, State Rep. Brandt Iden is pushing hard to have online gambling legalized in Michigan, with the lawmaker having introduced his internet gambling bill, H4926, last month. Iden’s bill compliments a similar bill, SB203, introduced by Senator Mike Kowall a few months back, with both bills also allowing for the possibility of forming interstate compacts with other regulated state’s once approved. This presents an even greater incentive for legalization in light of the pact signed between Nevada, Delaware and New Jersey last week.
Commenting upon his expectations going forwards, Iden said that he hoped to make a great deal of headway in October, and would like to have a bill pass through the House by the Thanksgiving holiday. The State Rep also said that casinos are increasingly becoming more receptive to the prospects offered by online gambling, especially as they attempt to reach out to a new generation of customers. As Iden explains:
“I really believe that the industry understands that things have got to move in this direction. They’re constantly looking to expand their operations with new gamers. They realize they have generations of gamers that are going to be looking at new platforms, and if they don’t get on board they will miss bus.”