Detroit casinos report record 2018 annual revenue

Contact: Mary Kay Bean 313-456-1344

Detroit, Jan. 8, 2019 - The three Detroit casinos during 2018 reported an historic $1.44 billion in annual revenue, which was $20 million higher than the previous annual record of $1.42 billion set in 2011.

MGM Grand Detroit reported $619.2 million in annual revenue, surpassing its previous record of $604.9 million set in 2012. MotorCity Casino also collected record annual revenue of $489.7 million, surpassing its previous revenue record of $480.2 million set in 2007. Greektown Casino’s 2018 revenue totaled $335.2 million, falling short of its record $352.8 million set in 2011.

Overall, the casinos reported a 3.1 percent increase in revenue from 2017. Slots brought in $1.17 billion or 81 percent of revenue, and table games contributed $272 million or 19 percent of revenue. Compared with 2017 results, annual revenue for MGM rose 4.6 percent to $619.2 million. MotorCity revenue increased 2.3 percent to $489.7 million. Greektown revenue was up 1.7 percent to $335.2 million.

December and 4th Quarter Results

The following chart compares results with those from the same month or period in 2017:

 

Dec. Revenue

(in millions)

Percentage

Increase/Decrease

4Q Revenue

(in millions)

Percentage

Increase/Decrease

MGM

$54.7

+9.4

$156.9

+6.7

MotorCity

$43.3

+8.7

$120.0

+3.0

Greektown

$29.4

+12.0

$84.2

+7.3

Totals

$127.4

+9.7

$361.1

+5.6

Full-year 2018 market shares were:

  • MGM, 43 percent

  • MotorCity, 34 percent

  • Greektown, 23 percent

Taxes and Other Payments

The three Detroit casinos paid $117 million in gaming taxes to the state of Michigan during 2018 compared with $113.4 million during 2017.  The casinos paid $10.3 million in gaming taxes to the state in December compared with $9.4 million during December 2017.

The three casinos reported making $182.9 million in wagering taxes and development agreement payments to the city of Detroit throughout 2018. During December, the casinos reported making $16.1 million in wagering taxes and development agreement payments to the city of Detroit.

"The Michigan Gaming Control Board shall ensure the conduct of fair and honest gaming to protect the interests of the citizens of the State of Michigan."