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ARTICLE · 17 MAY 2012

Detroit Casinos’ April Aggregate Revenues Slightly Decrease Compared Same Month Last Year: Michigan Gaming Control Board Releases April 2012 Revenue Data

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The Michigan Gaming Control Board ("MGCB") released the revenue and wagering tax data for April 2012 for the three Detroit, Michigan, commercial casinos. The three Detroit commercial casinos posted a collective 1.59% decrease in gaming revenues compared to the same month in 2011.

United StatesMedia, Telecoms, IT, Entertainment
Ryan Shannon
Ryan Shannon
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The Michigan Gaming Control Board ("MGCB") released the revenue and wagering tax data for April 2012 for the three Detroit, Michigan, commercial casinos. The three Detroit commercial casinos posted a collective 1.59% decrease in gaming revenues compared to the same month in 2011. Aggregate gross gaming revenue for the Detroit commercial casinos also decreased by approximately 8.85% in April compared to March 2012 revenue figures, continuing a trend of similar decline from March to April in prior years.

MGM Grand Detroit posted slightly decreased gaming revenue results for April 2012 as compared to the same month in 2011, with gaming revenue decreasing by less than 0.1%. MGM Grand Detroit continued to maintain the largest market share among the three Detroit commercial casinos and had total gaming revenue in April 2012 of over $52.1 million. MotorCity Casino had monthly gaming revenue exceeding $39.3 million and posted a 5.2% decrease in revenues in April 2012 compared to April 2011. Greektown, however, had gaming revenue of nearly $31.9 million, improving on its April 2011 revenues by nearly 1%.

The revenue data released by the MGCB also includes the total wagering tax payments made by the casinos to the State of Michigan. The gaming revenue and wagering tax payments for MGM Grand Detroit, MotorCity Casino, and Greektown Casino for April 2012 were:

Casino

Gaming Revenue

State Wagering Tax Payments

MGM Grand Detroit

$52,125,745.86

$4,222,185.41

MotorCity Casino

$39,350,932.55

$39,350,932.55

Greektown Casino

$31,868,439.41

$2,581,343.59

Totals

$123,345,117.82

$9,990,954.54

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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