The Michigan Gaming Control Board is releasing a report on how casinos perform in 2017. Three casinos in Detroit record 1 percent revenue increment from 2016. Above all, this means that Detroit casinos are set to do good in 2018. Detroit’s three casinos are MGM Grand, Greektown Casino, and MotorCity Casino. All the three casinos record a sum of $1.4 billion in 2017. This figure represents a 1.1 percent increment when you compare with 2016.
Key Factors That Made Detroit’s Casinos Revenue Increase
Much of the revenue in the Detroit casinos comes from slot machines. The report says that this is an 81 percent of the total collection. Slots from these three casinos bring in $1.14 billion. The table games collect a sum of $260 million. The three casinos bring in varying amounts of revenue. MGM Grand is the leading contributor with $592.2 million. From its coffers, though, the casino does not record improvement. It only improves by .01 percent from 2016.
MotorCity Casino is the second-largest contributor. The casino records growth of 2.3 percent when you compare with 2016. To the kitty of Detroit casinos, the casino brings $478.6 million.
Greektown Casino is the last contributor to this kitty. The casino brings in $329.7 million. In its performance, the casino records a 1.26 rise when you compare with 2016. All the three casinos pay a whopping $113.4 million in gaming taxes in 2017. This amount is up from the previous year’s $112.2 million. But this amount does not contain all the payments these casinos pay.
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A Word From The Michigan Gaming Control Board
Michigan Gaming Control Board says there is more than these casinos pay in 2017. The board says that the total amount these casinos pay is $177.4 million. The money includes gaming taxes and various development agreements. The report goes further to explain that MGM Grand Detroit takes the lead in the market share. The casino takes the lead with 42d percent. MotorCity Casino follows with a 34 percent. Meanwhile, Greektown casino trails with 24 percent of the market share.
It is encouraging to see the way the three operating casinos perform in December. In September 2017, MGCB releases a report on the August 2017 collection. In the September report, MGCB says that there is a 4 percent drop from the previous year. According to the MGCB report, the three casinos record $111.5 million in revenues. This is 3.8 percent drop when you compare to the collection of August 2016.
Will Detroit Casinos Revenue Increase Through 2018?
MotorCity Casino is the only facility that records an upswing. The facility’s collection is $38.4 million in August. Also, this is an upswing of 1.5 percent increase from what the casino gets in the same month in 2016. The owner of MotorCity Casino Hotel is IH Gaming.
In the same month, MGM Grand Detroit records $47.9 million. The amount is a 6.7 percent drop from last year’s collection. Greektown Casino also records a drop. In the same month of August, Greektown files $25.2 million in revenue collections. This amount is a 5.7 decrease from August 2016’s group. It is hard to know what Detroit casinos will collect next.