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Detroit Casino revenues were down for February 2011 by 0.4% compared to the same month last year. Revenues were also down by .49% in comparison to January 2011.
March 29, 2011
Detroit Casino Revenues and Wagering Taxes for February 2011
Casino Operations - February 2011
(Due to the higher Greektown casino rate) For the month of February 2011, gaming taxes for the three Detroit casinos were $9.3 million in comparison to $10.5 million for the same period last year.
The market shares for MGM, MotorCity, and Greektown for February 2011 were 41 percent, 34 percent, and 25 percent, respectively.
Revenue for MGM and Greektown were down by 3.5 percent, to $46.9 million, 2.7 percent to $28.9 million respectively, whereas MotorCity was up by 5.7 percent to $38.6 million, in comparison to the same month last year.
The aggregate revenue for all three Detroit casinos for February 2011 was down by less than half a percent (0.4%) compared to the same month last year. Revenues were also down by less that a percent (.49%) in comparison to January 2011.
Casino Operations - 3 Months Ending February 2011
The aggregate revenue for the Detroit casinos for the three months ending February, 2011, was up by 1.75 percent, in comparison to the same period last year. Revenues for MGM, MotorCity, and Greektown for the three months ending February 2011 were $145 million, $116 million, and $82 million, respectively.
Revenue for the three months ending February 2011, for MGM and MotorCity was up by 1.1 percent, and 8.4 percent respectively, whereas Greektown was down by 5.3 percent in comparison to the same three months last year.
For the three months ending February, 2011, gaming taxes for the Detroit casinos were $27.7 million in comparison to $30.7 million for the same period last year.