Detroit Casino Revenues Up for April by 7 % in Comparison to the Same Month Last Year - MGM Grand and Greektown Revenues up 12.1 % and 11.9 %, respectively.
Detroit Casino Revenues and Wagering Taxes for April 2010
The Michigan Gaming Control Board reports today that the aggregate revenue and taxes for all three Detroit casinos for April 2010 were up by 7 percent in comparison to the same month last year and also were up by 6.6 percent in comparison to last month (March 2010).
Revenue for MGM Grand Detroit and Greektown was up by 12.1 percent and 11.9 percent respectively, whereas MotorCity was down by 3.2 percent, compared to the same month last year. The Detroit gaming market shares for MGM, MotorCity, and Greektown were 42 percent, 31 percent, and 27 percent respectively for April 2010.
For the month of April 2010, gaming taxes for the three (3) Detroit casinos were $7.04 million compared to $10.2 million for the same period last year.
Details
Aggregate revenue and taxes for all three (3) Detroit casinos for the three months ending April, 2010, were up by 3.7 percent, compared to the same period last year. Revenues for MGM, MotorCity, and Greektown for the three months were $150 million, $115 million, and $95 million, respectively.
Revenue for the three months ending April 30, 2010, for MGM and Greektown were up by 6.1 percent and 10.7 percent respectively, whereas MotorCity was down by 4.3 percent compared to the same period last year.
For the three months ending April 30, 2010, gaming taxes for the three (3) Detroit casinos were $26.1 million compared to $31.7 million for the same period last year.
Note: On March 9, 2010, the Board granted Greektown Casino a tax rollback in the amount of $14,971,488. The unused amount, as of April 30, 2010, is $10,337,736, which will be offset against future gaming revenue through approximately July 2010.
