Aggregate Revenue Drops in Detroit Casinos
Three Michigan casinos experienced a $1.6 million drop in revenue in June.
On Tuesday, the Michigan Gaming Control Board (MGCB) reported that Detroit-based MGM Grand, MotorCity Casino Hotel, and Greektown Casino-Hotel grossed a total of $117.5 million in aggregate revenue during June.
The state regulator pointed out that the casino resorts recorded a 1.4% decrease from June 2018.
Aggregate revenue from the second quarter of 2019 increased by 0.2% in the three venues compared to the same quarter of last year with them taking in $368.4 million.
In addition, Greektown had the biggest year-over-year decrease, dropping 2.8% in revenue for a total of $26.9 million. Also, MGM’s revenue reduced by 2.2% percent with the casino giant producing $50.7 million.
In contrast, MotorCity’s revenue increased by 0.7%, bringing $39.9 million to the casino resort.
Last month, the properties set aside $14 million in development agreement payments and gambling taxes.
In June, the state of Michigan received $9.5 million in taxes from the casinos.