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Detroit Casino Revenues & Wagering Taxes for the Year of 2012
January 22, 2013
January 22, 2012
FOR IMMEDIATE RELEASE
Time: 3:00 p.m.
Location: Cadillac Place, 3062 W. Grand Blvd., L-700 - Detroit.
DETROIT CASINO REVENUES AND WAGERING TAXES FOR THE YEAR 2012
Casino Operations - Year 2012
The total revenue consisted from slots of $1.2 billion (84.4%) and table games of $222 million (15.6%). Revenue for MGM was up by 0.9% to $604.9 million, whereas MotorCity and Greektown were down by 2.6% to $459.8 million, and 0.2% to $352.1 million respectively, when compared to the year 2011.Aggregate revenue for the three Detroit casinos for the year ended December 31, 2012 was down by 0.5% to $1.4 billion compared to the same period last year.
For the year ended December 2012, gaming taxes for the three Detroit casinos were $114.8 million compared to $115.4 million for the year 2011. The market shares for MGM, MotorCity, and Greektown for the year 2012 were 43%, 32% and 25%, respectively.
Casino Operations - December 2012
Revenue was up by 4.8% when compared to the previous month, November 2012.Aggregate revenue for the three Detroit casinos for the month ended December 31, 2012 was down by 4.4% when compared to the same month last year.
Revenue for MGM, MotorCity, and Greektown was down by 3.1% to $50.7 million, 0.5% to $40.2 million, and 11.9% to $27.3 million, respectively, when compared to December 2011.
For the month ended December 31, 2012, gaming taxes for the three Detroit casinos were $9.6 million compared to $10.0 million for the same period last year. The market shares for MGM, MotorCity, and Greektown for December 2012 were 43%, 34%, and 23%, respectively.
Appointees will serve four-year terms that expire December 31, 2016, and their appointments are subject to the advice and consent of the Senate. On Friday, January 18, 2013, Gov. Rick Snyder announced the appointment of Dennis Beagen, of Northville, and the reappointment of Michael Watza, of Novi, to the Michigan Gaming Control Board.
The Governor's press release includes biographical information on both members.