Casino Operations - August 2011
Aggregate revenue for all three Detroit casinos for the month of August 2011 was up by 1.9 percent compared to the same month last year. Revenue was down by 4.2 percent when compared to the previous month, July 2011.
Revenue for MGM, and MotorCity was up by 3.2 percent to $49.6 million, and 8.5 percent to $38.0 million, respectively, while Greektown was down by 8.1 percent to $27.5 million compared to the same month last year.
The market shares for MGM, MotorCity, and Greektown for the month of August 2011 were 43 percent, 33 percent, and 24 percent, respectively.
For the month of August 2011, gaming taxes for the three Detroit casinos were $9.3 million compared to $6.7 million for the same period last year. (Gaming taxes were lower in 2010 due to the rollback of a reduced tax rate for Greektown in March 2010, which created a tax credit that was utilized through September 2010.)
Casino Operations - Three Months Ending August 2011
Aggregate revenue for all three Detroit casinos for the three months ending August 2011, was up by 2.0 percent compared to the same period last year. Gaming revenue for MGM, MotorCity, and Greektown for the three months ending August 2011 was $148 million, $115 million, and $85 million, respectively.
Revenue for the three months ending August 2011, for MGM, and MotorCity was up by 2.3% and 5.2% respectively, whereas Greektown was down by 2.4%, compared to the same period last year.
For the three months ending August 2011, gaming taxes for the three Detroit casinos were $28.2 million compared to $20.6 million for the same period last year (Gaming taxes were lower in 2010 due to the rollback of a reduced tax rate for Greektown in March 2010, which created a tax credit that was utilized through September 2010.)
