Steady As She Goes: Detroit Casino Revenue Remains Consistent

Please rephrase your request.

In 2019, the retail casino hub of Michigan has maintained its stability. The revenue from Detroit casinos remained consistent throughout the month of May.

According to the most recent monthly report released by the Michigan Gaming Control Board, there has been a slight rise in performance across all three Detroit facilities.

Detroit casino revenue details for May 2019

In May, the Detroit casinos collectively generated $125.7 million in revenue, as indicated by the report. However, it is noteworthy that not all three establishments made equal contributions.

The aggregate revenue reported by MGM was $54.4 million. MotorCity’s revenue amounted to $41.9 million, while Greektown contributed $29.4 million to the total.

The three numbers showed a small increase compared to the figures in April.

Revenue holding steady for Michigan casinos

In May, the combined revenue from the three casinos increased by half a million dollars compared to April’s total of $125.2 million.

Greektown remains at the lower end of the spectrum in terms of revenue. It recorded the lowest revenue figures for both May and April. Nevertheless, there was a slight improvement in Greektown’s revenue, as it increased by 0.3% from $29.3 million in April.

In comparison to April, MGM experienced a 3.8% growth in May. MGM’s revenue in April was $52.4 million, as reported.

In contrast to April, May proved to be a more challenging month for MotorCity as its revenue experienced a decline of 3.6% from the previous month’s $43.5 million.

In May, MotorCity experienced a decline in its market share by two percentage points, while both Greektown and MGM each gained one point. MGM dominated the market with a 43% share in May.

MotorCity accounted for 33% of the market share, while Greektown contributed the remaining 24%.

In May 2018, the combined revenue of Detroit’s casinos reached $124.6 million. Consequently, May 2019 experienced a growth of 0.9%.

In May, Greektown experienced the highest year-over-year growth, with its revenue increasing by 2.4% compared to the previous year.

In May 2018, MGM experienced a minimal increase of 0.1%, whereas MotorCity saw a slightly higher rise of 0.9%.

The theme of consistency extends to the entire year as well, as revenue in the first five months of 2019 has increased by 1.5% compared to 2018.

Tax revenue for both the city of Detroit and the state has remained stable, mirroring the consistent aggregate revenues.

Gaming tax revenues for Detroit and the state of Michigan

The Detroit casinos contributed $10.2 million in gaming taxes to the state of Michigan in May this year. This amount reflects a slight increase of $0.1 million (1%) compared to May 2018 and April 2019.

In May, the identical establishments contributed $14.97 million to the city in taxes and development agreement payments. This amount reflects a 0.5% increase from the $14.9 million recorded in April.

Although this provides a comprehensive overview of the performance of Detroit casinos in May 2019, we are still waiting for a complete analysis of the entire state’s gambling activities during that month.

What about tribal casinos and racetracks?

Monthly reports must be filed by Detroit casinos with the Michigan Gaming Control Board, unlike tribal casinos and racetracks in the state.

Annual reports are mandated for tribal gaming facilities and state racetracks, with updates on their performance expected in early 2020.

If Michigan sports betting is legalized, it is possible for both Michigan casino revenue and gaming taxes to see an increase. Until that happens, though, the revenue and taxes have remained stable up until May of this year.

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