February 24, 2011
Casino Operations - December 2010
The aggregate revenue for all three Detroit casinos for
December
2010 was up by 2.4 percent, in comparison to the same month last year. Revenues were also up by .9 percent in comparison to last month (November 2010).
Revenue for MGM Grand Detroit and MotorCity, were up by 4.2 percent and 11.9 percent respectively, compared to the same month last year, whereas Greektown was down by 12.1 percent compared to the same month last year.
The market shares for MGM, MotorCity, and Greektown for December 2010 were 43.6 percent, 34.2 percent, and 22.2 percent, respectively.
For the month of December 2010, gaming taxes for the three Detroit casinos were $9.11 million in comparison to $10.03 million for the same period last year.
Casino Operations - 4th Quarter Ending December 2010
The aggregate revenue for the Detroit casinos for the quarter ending December 2010, were up by 3.5 percent, in comparison to the same period last year. Revenues for MGM, MotorCity, and Greektown for the quarter ending December, 2010, were $143 million, $112 million, and $81 million, respectively.
Revenue for the quarter ending December, 2010, for MGM and MotorCity was up by 6.5 percent, and 7.2 percent respectively, whereas Greektown was down by 5.9 percent in comparison to the same quarter last year. For the quarter ending December, 2010, gaming taxes for the Detroit casinos were $27.3 million in comparison to $29.9 million for the same period last year.
Casino Operation - January 2011
Aggregate revenue for all three Detroit casinos for the month of January 2011 were up by 3.3% compared to the same month last year. Revenues were also up by 2% compared to last month (December 2010).
Revenue for MGM Grand Detroit and MotorCity were up by 2.6% to $48.7 million and 7.7% to $38.7 million respectively, whereas Greektown was down by 1.31% to $27.7million compared to the same month last year. Revenue for Auto show in January 2011 was down by 1.5% and 5% for MGM and Greektown respectively, whereas MotorCity was up by 10% compared to last year.
The market shares for MGM, MotorCity, and Greektown for the month of January 2011 were 42%, 34%, and 24%, respectively. For the month of January 2011, gaming taxes for the three Detroit casinos were $9.3 million compared to $10.1 million for the same period last year. (Due to the higher GTC rate)
Casino Operations - 3 Months Ending January 2011
Aggregate revenue for all three Detroit casinos for the three months ending January 2011, were up by 3.5% compared to the same quarter last year. Gaming revenue for MGM, MotorCity, and Greektown for the three months ending January 2011 was $146 million, $114 million, and $79 million, respectively.
Revenue for the three months ending January 2011, for MGM and MotorCity was up by 5.9% and 8.6%, respectively, whereas Greektown was down by 6.7% compared to the same three month period last year.
For the three months ending January 2011, gaming taxes for the three Detroit casinos were $27.4 million compared to $29.9 million for the same period last year.
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BOARD APPROVAL OF DUGGAN TO THE GREEKTOWN BOARD
At the monthly MGCB Board meeting today, the Board approved the suitability of Michael Duggan to serve as a member of the Board of directors for the Greektown Casino. The Board's vote to approve Duggan is effective immediately.
