August 13, 2013
Location: Cadillac Place, 3062 W. Grand Blvd., L-700 - Detroit.
Time: 3:00 p.m.
DETROIT CASINO REVENUES AND WAGERING TAXES FOR JUNE AND JULY 2013
Casino Operations – Month of June 2013
Aggregate revenue for the three Detroit casinos for the month ending June 30, 2013, was down 6.9% when compared to the same month last year. Revenue was also down 10.9% when compared to May 2013. For year-to-date June 30, 2013, aggregate revenue for the three Detroit casinos was down 5.3% compared to the same period last year.
Revenue for MGM, MotorCity and Greektown was down 11.7% to $41.8 million, 4.0% to $35.4 million, and 2.3% to $26.6 million, respectively, when compared to June 2012.
The market shares for MGM, MotorCity, and Greektown for June 2013 were 40%, 34%, and 26%, respectively.
For the month ending June 30, 2013, gaming taxes for the three Detroit casinos were $8.4 million compared to $9.0 million for the same month last year.
Casino Operations – Month of July 2013
Aggregate revenue for the three Detroit casinos for the month ending July 31, 2013, was up 0.3% when compared to the same month last year. Revenue was also up 8.2% when compared to June 2013. For year-to-date July 31, 2013, aggregate revenue for the three Detroit casinos was down 4.6% compared to the same period last year.
Revenue for MGM was up 5.5% to $51.5 million, whereas MotorCity and Greektown were down 1.0% to $34.6 million and 7.2% to $26.2 million, respectively, when compared to July 2012.
The market shares for MGM, MotorCity, and Greektown for July 2013 were 46%, 31%, and 23%, respectively.
For the month ending July 31, 2013, gaming taxes for the three Detroit casinos were the same at $9.1 million compared the same month last year.
Detroit Casinos License Renewal
The annual license renewals for the 3 Detroit Casinos, MGM, Motor City, and Greektown were approved today by the Gaming Board.
