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The most recent revenue figures for the three commercial casinos in Detroit, Michigan have been released by the Michigan Gaming Control Board (MGCB).
In general, the casinos exhibit a rise in revenue when comparing year-over-year data, but display a decrease when examining month-over-month statistics.
In September, the total revenue generated by casinos amounted to $115.2 million, marking the lowest monthly figure since February 2018.
Compared to August 2018, there is a 4.4 percent decrease, but compared to September 2017, there is a 1.4 percent increase.
When examining the year-to-date data, it is evident that the trend line for 2018 remains steady, which is a positive development compared to the slightly declining trend line observed in 2017.
September Detroit casino revenue summary
Data is collected by the MGCB from Detroit’s three casinos on a monthly basis.
- The establishment in question is the MGM Grand Detroit.
- MotorCity Casino Hotel can be rewritten as “The Hotel at MotorCity Casino” or “MotorCity Casino’s Hotel.”
- The hotel located in Greektown is Greektown Casino Hotel.
There is no doubt that MGM remains a dominant force in the Detroit casino market.
While MGM and MotorCity experienced year-over-year percentage increases of 3.5 percent and 1 percent respectively, Greektown faced a decline of nearly 2 percent.
MGM’s revenue for the month amounted to almost $50 million, reflecting a decline of 5.7 percent compared to August.
In September, MotorCity Casino generated $39 million, experiencing a decline of 2.5 percent compared to the previous month.
Greektown Casino Hotel experienced a 4.5 percent decline in revenue, recording a figure of $27 million compared to the previous month.
In August, it was observed that all three casinos experienced a decline compared to September. Despite a remarkable achievement in March, the casinos have witnessed only marginal improvements since then.
MGM continues to exhibit a consistently positive trend line, whereas MotorCity and Greektown remain relatively unchanged.
MGM continues to hold steady with almost half of the market share, while MotorCity and Greektown are left to compete for the remaining portion.
Tribal and commercial casinos paying it forward
Monthly, the commercial casinos diligently disclose their tax contributions to both the state and the city of Detroit. In the previous month, their cumulative tax payments amounted to $9.3 million for the state and $14.2 million for the city of Detroit.
In a unique manner of operation, tribal casinos in Michigan have distinct protocols. As per the compact between the state and its 12 tribes, these tribes contribute payments to local governments and revenue sharing boards within the state.
The reported figures are an annual representation, equivalent to 2 percent of the total earnings generated from slot machines.
In 2017, tribal casinos disbursed payments amounting to $30 million. The tribes disclosed that revenue sharing experienced a 2 percent growth compared to the fiscal year 2016.
In contrast, the commercial casinos’ tax payments in 2017 amounted to $291 million, accounting for 24 percent of their revenue. This figure reflects a 1 percent growth compared to their tax payment in 2016.
Although the year-over-year growth percentages may not be significant, they hold utmost importance as discussions on online gambling and sports betting gain momentum at the state level.
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