CASINO

Detroit casino revenue rose 3.9% in Q2 2018

TAGs: Detroit, greektown casino, MGM Grand Detroit, MotorCity

Aggregate revenue of Detroit’s three commercial casinos rose by 3.9 percent in the second quarter of 2018, according to the latest Michigan Gaming Control Board (MGCB) report.

Detroit casino revenue rose 3.9% in Q2 2017Detroit’s three casinos—the MGM Grand Detroit, MotorCity, and Greektown Casino—posted combined gaming revenue of $367.9 million during the April to June 2018 period, higher than the $353.55 million revenue generated in the same period last year.

MGM continued to dominate the Detroit casino market with a 44 percent share, followed by MotorCity with 33 percent and Greektown’s 23 percent, according to MGCB.

MGM’s Q2 2018 revenue reached $157.4 million, 5.8 percent higher year-on-year. MotorCity’s revenue climbed 3.4 percent to $124.9 million from $120.65 million a year ago, while Greektown’s revenue inched up 1.2 percent to $85.6 million.

The MGCB did not provide any commentary on this latest financial report.

The board also released the June figures of the three Detroit casinos, which saw combined revenue of $119.1m, a 5.3 percent increase compared to the June 2017 results but a 4.4 percent decline from May 2018.

MGM’s June revenue rose 6.6 percent to $51.8 million. At MotorCity, revenue increased 4.4 percent to $39.6 million. Greektown revenue was up 4.4 percent to $27.7 million.

The three casinos remitted a total of $9.6 million in gaming taxes to the state of Michigan last month, a 4.3 percent year-on-year rise.

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