December 07, 2010
Casino Operations - November 2010
The aggregate revenue for all three Detroit casinos for November 2010 was up by 4.8 percent, in comparison to the same month last year. However, revenues were down by 2.0 percent in comparison to October 2010.
Revenue for MGM Grand Detroit and MotorCity were up by 11 percent, to $47.7 million and 6 percent to $37.1 million in comparison to the same month last year. Revenue for Greektown was down by 6.7 percent to $26.5 million in comparison to the same month last year.
The market shares for MGM, MotorCity, and Greektown for November 2010 were 43 percent, 33 percent, and 24 percent, respectively.
For the month of November 2010, gaming taxes for the three Detroit casinos were $9.0 million in comparison to $ 9.7 million for November 2009. (Due to Greektown tax rate reduction)
Casino Operations - 3 Months Ending November 2010
The aggregate revenue for the Detroit casinos for the three months ending November 30, 2010, were up by 4.5 percent, in comparison to the same period last year. Revenues for MGM, MotorCity, and Greektown for the three months ending November 30, 2010, were $141 million, $109 million, and $84 million, respectively.
Revenue for the three months ending November 30, 2010, for MGM and MotorCity was up by 8.7 percent, and 4.6 percent respectively, whereas Greektown was down by 2.0 percent in comparison to the same three months last year.
For the three months ending November 30, 2010, gaming taxes for the Detroit casinos were $26.2 million in comparison to $29.4 million for the same period last year.
