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ARTICLE · 31 DECEMBER 2012

Detroit Casinos' November Revenues Decrease From Same Month Last Year: Michigan Gaming Control Board Releases November 2012 Revenue Data

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The Michigan Gaming Control Board ("MGCB") released the revenue and wagering tax data for November 2012 for the three Detroit, Michigan, commercial casinos.

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 November 2012 for the three Detroit, Michigan, commercial casinos. The three Detroit commercial casinos posted a collective 1.95% decrease in gaming revenues compared to the same month in 2011. Aggregate gross gaming revenue for the Detroit commercial casinos increased, however, by approximately 1.7% compared to October 2012 revenue figures, reversing the slight decrease in revenues between October and November in 2011.

MGM Grand Detroit posted lower gaming revenue results for November 2012 as compared to the same month in 2011, with gaming revenue decreasing by slightly more than 2.4%. MGM Grand Detroit continued to maintain the largest market share among the three Detroit commercial casinos and had total gaming revenue in November 2012 of approximately $47.8 million. MotorCity Casino had monthly gaming revenue approaching $38.5 million, with revenues increasing by nearly 2.1% in November 2012 compared to November 2011. Greektown Casino posted a 6.48% decrease in revenues for November 2012 compared to the same month in 2011, but it remains on pace to improve on its overall 2011 annual revenues. Greektown had gaming revenue of slightly more than $26.5 million for November 2012.

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 November 2012 were:

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