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Detroit Casino Revenues and Wagering taxes for Three Months Ending January 2012
February 21, 2012
DETROIT CASINO REVENUES AND WAGERING TAXES FOR THREE MONTHS ENDING JANUARY 2012
Casino Operations - Year 2011
Aggregate revenue for all three Detroit casinos for the year ending December 31, 2011 was up by 3.4% to $1.4 billion when compared to 2010. The total revenue contributed to slots and table games was $1.2 billion and $224 million, respectively.
Revenue for MGM, MotorCity, and Greektown was up by 3.1% to $599.7 million, 5.7% to $472.0 million, and 0.9% to $352.8 million, respectively, compared to 2010.
The market shares for MGM, MotorCity, and Greektown for 2011 were 42%, 33%, and 25%, respectively.
For the year ended December 2011, gaming taxes for the three Detroit casinos were $115.4 million compared to $99.3 million for the same period last year.
Casino Operations - Month of January 2012
Aggregate revenue for all three Detroit casinos for the month ended January 31, 2012 was down by 0.8% when compared to the same month last year. Also, revenue was down by 7.7% when compared to the previous month, December 2011.
Revenue for MGM and MotorCity were down by 1.7% to $47.9 million and 5.1% to $36.7 million, respectively, whereas Greektown was up by 7.0% to $29.6 million, compared to January 2011.
The market shares for MGM, MotorCity, and Greektown for January 2012 were 42%, 32%, and 26%, respectively. Revenue for the Auto show period in January 2012 was down by 1.6% and 8.4% for MGM and MotorCity respectively, whereas Greektown was up by 8.3% when compared to auto show week last year.
For the month ended January 2012, gaming taxes for the three Detroit casinos were $9.2 million compared to $9.3 million for the same period last year.