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September 18, 2020

In Michigan

Detroit casinos see considerable increases in revenue

Detroit casinos see considerable increases in revenue
During February, the three Detroit casinos paid $9.9 million in gaming taxes to the state of Michigan compared with $9.3 million for the same period last year.
United States | 03/12/2020

February’s aggregate revenue was $121.7 million, up 6.3 percent as compared to February 2019. Revenue also rose 6.7 percent during the first two months of 2020 as compared with the same months last year.

D

etroit's casinos reported February financial results, which showed the industry has been experiencing considerable increases within the last months. 

February revenue was up 1.5 percent from January results, and revenue rose 6.7 percent during the first two months of 2020 as compared with the same months last year.

The Detroit casinos reported aggregate revenue of $121.7 million during February, topping February 2019 revenue by 6.3 percent, Click on Detroit reports.

Compared with February 2019 results, MGM Grand Detroit’s monthly revenue rose 6.4 percent to $52.6 million. MotorCity Casino recorded $40.5 million in revenue for a 4.7 percent increase from the same month last year. Greektown Casino reported $28.6 million in monthly revenue for an 8.3 percent increase compared with February 2019 numbers.

Market shares for February were:

  • MGM Grand Detroit, 43 percent
  • MotorCity Casino, 33 percent
  • Greektown Casino, 24 percent

During February, the three Detroit casinos paid $9.9 million in gaming taxes to the state of Michigan compared with $9.3 million for the same period last year.

The three Detroit casinos reported submitting $14.5 million in wagering taxes and development agreement payments to the city of Detroit during February.

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