January 13, 2015
Detroit Casino Revenues and Wagering Taxes Reported for 2014
Detroit - The three Detroit casinos reported 2014 aggregate revenue of $1.33 billion, which was down 1.2 percent compared with 2013 aggregate revenue. Fourth quarter and December revenue rose 4 percent and 10.3 percent respectively compared with 2013.
MotorCity’s yearly revenue was down 2.1 percent to $445 million. MGM’s revenue was down 1 percent to $561.1 million, and Greektown revenue declined 0.5 percent to $326.7 million. Slots comprised 83 percent of 2014 total revenue, contributing $1.1 billion. Table games added $227 million, or 17 percent, of 2014 revenue.
For the year ending December 2014, gaming taxes for the three Detroit casinos were $108 million compared with $109.3 million for 2013.
The casinos’ 2014 market shares were:
Quarterly results
Fourth quarter 2014 aggregate revenue for the three Detroit casinos was up 4 percent compared with the same period in 2013.
Compared with the fourth quarter of 2013, quarterly gaming revenue was up 9.6 percent to $83.5 million for Greektown, 2.4 percent to $114.1 million for MotorCity and 2.2 percent to $140.7 million for MGM.
For the quarter ending in December, gaming taxes for the three Detroit casinos were $27.4 million compared with $26.3 million for the same period last year.
December results
Monthly aggregate revenue for the three Detroit casinos was up 10.3 percent in December when compared with December 2013. Revenue was also up 10.6 percent when compared with November 2014.
Greektown’s December monthly revenue of $28.4 million was up 12 percent compared with December 2013. MGM’s revenue of $50.1 million was up 11.5 percent, and MotorCity’s $39.6 million in revenue was up 7.6 percent compared with December 2013.
For the month ending Dec. 31, 2014, gaming taxes for the three Detroit casinos were $9.6 million compared to $8.7 million for the same period last year.
The Detroit casinos’ December 2014 market shares were:
"The Michigan Gaming Control Board shall ensure the conduct of fair and honest gaming to protect the interests of the citizens of the State of Michigan."
