Detroit Casino Revenues & Wagering Taxes for July

The Michigan Gaming Control Board reports today that the aggregate revenue and taxes for all three Detroit casinos for the month of July 2008 were up by 1.98% in comparison to the same month last year. Revenue for MGM Grand casino was up by 22.26%, while MotorCity and Greektown casinos were down by 7.26% and 13.17% respectively, in comparison to the same month last year.

The gaming market share for the month of July 2008 for the MGM, MotorCity and Greektown casinos were 44%, 34%, and 22%, respectively.

For the month of July 2008, gaming taxes for the three Detroit casinos were $10.38 million in comparison to $13.71 million for the same period last year. The decrease in the State of Michigan's gaming tax revenue, is due to the tax roll back approved for MGM Grand and the MotorCity casinos.

* Spreadsheet attached.