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April 12, 2016
Detroit – The three Detroit casinos’ first quarter aggregate revenue was 0.3 percent higher than first quarter 2015 results. During March, monthly revenue rose 7.3 percent above February results and was 0.8 percent higher than March 2015 revenue.
First Quarter Results
During the quarter, MGM’s revenue grew 1.5 percent to $145.7 million. MotorCity’s revenue of $121.2 million was up 0.6 percent. Greektown experienced a 2.1 percent revenue decline to $83.5 million compared with the first quarter of last year.
The three casinos paid $28.4 million in state gaming taxes during the first quarter compared with $28.3 million for the first three months of last year.
The three Detroit casinos reported submitting more than $41 million in wagering taxes and development agreement payments to the city of Detroit during the first quarter.
March Results
MGM reported a 4 percent increase in monthly revenue to $51.8 million, and MotorCity was up 0.6 percent to $43.7 million. Greektown’s revenue fell 4 percent to $29.4 million. All results are compared with March 2015 revenue.
The monthly market shares were:
The three Detroit casinos paid $10.1 million in state gaming taxes during March compared with $10 million for March 2015. The casinos reported submitting $14.9 million in wagering taxes and development agreement payments to the city of Detroit during March.
"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."