MGM Continues Major Lead Among Three Detroit Casinos In June
Jer Staes
Detroit, MI
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Detroit’s casino revenue is basically flat for the year so far.
Per the state of Michigan, aggregate revenue for the three Detroit casinos fell 0.2 percent during the second quarter of 2016 compared with last year’s second quarter, but year-to-date revenue is up a fractional 0.04 percent from the same period in 2015.
For the month ended June 30, the casinos’ aggregate revenue was down by 1.2 percent when compared with June 2015 results and fell 8.4 percent below May revenue.
| 2nd Quarter +/- | Total Dollar Amount 2ndquarter
(millions) |
June +/- | Total Dollar Amount for month
(millions)
|
|
| MGM | -0.7% | $149.9 | +0.5% | $47.6 |
| MotorCity | -0.1% | $117.3 | -3.0% | $35.9 |
| Greektown | +0.4% | $82.3 | -1.7% | $25.2 |
June 2016 market shares were:
MGM, 44 percent
MotorCity, 33 percent
Greektown, 23 percent
For the month ended June 30, the three Detroit casinos paid $8.8 million in state gaming taxes compared with $8.9 million for the same month last year. The three Detroit casinos paid $28.3 million in state gaming taxes during the quarter compared with $28.4 million during the second quarter of 2015.
During June, the three Detroit casinos reported submitting $12.9 million in wagering taxes and development agreement payments to the City of Detroit.
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