Michigan gaming revenue falls slightly in third quarter

Oct 16, 2017 9:36 AM

Michigan gaming regulators report revenue fell just slightly at Detroit’s three casinos in the third quarter, dropping less than a percent from the same time last year to $344.1 million.

The Michigan Gaming Control Board says MotorCity Casino Hotel’s third quarter revenue rose year-over-year by 1.6 percent to $117.3 million, while revenue at MGM Grand dipped 2 percent to $147.1 million and Greektown Casino-Hotel was down 1.7 percent to $79.7 million.

September revenue at all three casinos rose 1.3 percent from the same time last year to $113.6 million. Monthly revenue at MotorCity rose by 3.8 percent to $38.4 million and Greektown saw a 2.1 percent gain to $27.2 million while revenue at MGM Grand fell 1 percent to $48 million.

The market shares were:

MGM: 42 percent

MotorCity: 34 percent

Greektown: 24 percent

During September, the three Detroit casinos paid $9.2 million in gaming taxes to the state of Michigan and reported submitting $18 million in wagering taxes and development agreement payments to the city of Detroit.