November 09, 2010
Casino Operations - October 2010
The aggregate revenue for all three Detroit casinos for October 2010 was up by 3.1 percent, in comparison to the same month last year. Revenues were also up by 3.9 percent in comparison to September 2010. Revenue for MGM Grand Detroit, MotorCity, and Greektown were up by 4.2 percent, to $46.8 million, 3.7 percent to $37.3 million, and .8 percent to $29.5 million, respectively in comparison to the same month last year.
The market shares for MGM, MotorCity, and Greektown for October 2010 were 41 percent, 33 percent, and 26 percent, respectively.
For the month of October 2010, gaming taxes for the three Detroit casinos were $9.2 million in comparison to $10.1 million for October 2009. *
Casino Operations - 3 Months Ending October 2010
The aggregate revenue for the Detroit casinos for the three months ending October 31, 2010, were up by 3.2 percent, in comparison to the same period last year. Revenues for MGM, MotorCity, and Greektown for the three months were $141 million, $107 million, and $88 million, respectively.
Revenue for the three months ending October 31, 2010, for MGM and MotorCity were up by 7.9 percent, and .7 percent respectively, whereas Greektown was down by .7 percent in comparison to the same three months last year.
For the three months ending October 31, 2010, gaming taxes for the Detroit casinos were $24 million in comparison to $29.9 million for the same period last year.*
*(Due to Greektown Casino partial tax rollback credit and paying the usual rate of 8.1 percent instead of the 12.1 percent for the same three months last year).
