Detroit Casino revenues were up by for August 1.1% over August 2009. However revenues were down by 4.9% compared to July.
August 10, 2010
Casino Operations - August 2010
The aggregate revenue for all three Detroit casinos for August 2010 were up by 1.1 percent, in comparison to the same month last year. However, revenues were down by 4.9 percent in comparison to July 2010. Revenue for MGM Grand Detroit was up by 8.8 percent, to $48 million, whereas MotorCity and Greektown were down by 5.1 percent to $35 million and 2.4 percent to $29.9 million respectively, in comparison to August 2009.
The market shares for MGM, MotorCity, and Greektown for August 2010 were 43 percent, 31 percent, and 26 percent, respectively.
For the month of August 2010, gaming taxes for the three Detroit casinos were $6.7 million in comparison to $10.3 million for August 2009. *
Casino Operations - Three Months Ending August 2010
The aggregate revenue for the Detroit casinos for the three months ending August 2010, were up by 1.5 percent, in comparison to the same period last year. Revenues for MGM, MotorCity, and Greektown for the quarter were $145 million, $109 million, and $88 million, respectively.
Revenue for the three months ending August 31, 2010, for MGM was up by 6.6 percent whereas Greektown and MotorCity were down by 0.2 percent and 4 percent, respectively, in comparison to the same quarter last year.
For the three months ending August 31, 2010, gaming taxes for the Detroit casinos were $20.6 million in comparison to $31 million for the same period last year.*
(Due to Greektown Casino not remitting any gaming taxes while using up the tax rollback credits). *