MGM Grand’s dominance slips in Detroit

July 17, 2001 1:33 AM
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MGM Grand Detroit casino continues to dominate the marketplace, but its margin is slipping in the face of competition from MotorCity and Greektown casinos.

The city’s oldest casino reported $29.95 million in June revenue, according to figures released last Friday by the Michigan Gaming Control Board in Lansing. The figure represents a loss of 4.7 percent from last June’s $31.42 million. The casino hasn’t had a daily average of $1 million in revenue for six of the past eight months.

All three casinos grossed $80.07 million in June revenue, which measures the money spent by gamblers on table games and slot machines. The casinos paid $6.48 million in state taxes and $7.9 million in city taxes.

Revenue for the first half of the year was $473.74 million.

MGM Grand Detroit’s 2,509 slots averaged $278 win per day in June, down 7.6 percent from last year. The casino’s table games had a win of $3,744 per table per day based on 80 tables, up 2.5 percent from last month.