Michigan’s three commercial casinos continued to chug along in October.
The trio of Detroit casinos generated $112.7 million during the month, according to the latest Michigan Gaming Control Board reports. That represents a 1.7 percent increase compared to October 2016.
The year-over-year revenue gains have been a trend in 2017. October marks the eighth time in 10 months the three Detroit casinos have posted YoY revenue gains.
|Month||2016 Revenue||2017 Revenue||YoY Change|
Revenue by operator in October
All three casinos are performing admirably, but as usual, MGM Detroit led the way last month. MotorCity landed in second revenue-wise and Greektown in third.
- MGM Detroit: $48.4 million
- MotorCity Casino: $38.4 million
- Greektown Casino: $25.9 million
Those revenue numbers gave MGM a 43 percent market share in October, with MotorCity at 34 percent and Greektown at 23 percent.
Secret to MGM’s success
Three things are working in MGM’s favor in the Detroit market:
- The company’s well-known brand and experience in the gaming and hospitality field;
- MGM Grand Detroit predates Greektown by two years and MotorCity by one year;
- MGM Detroit has a larger footprint, with over 3,500 slots (MotorCity has 2,800 and Greektown 3,000) to go along with its copious table games and new poker room.
Tax revenue is a boon for Detroit
Twenty-three million of the $112.7 million generated by the three casinos last month went to city of Detroit and the state in the form of gaming taxes:
- $13.9 million to the city of Detroit
- $9.1 million to the state of Michigan
This money is crucial to the city. Casino taxes are Detroit’s third-largest source of revenue. Only income taxes and the money Detroit receives from state revenue sharing account for more than the city’s three commercial casinos.
Through the first 10 months of 2017, the three casinos have paid the city a total of $144.3 million, and they’ve sent another $95 million to the state.
A look at casino revenue through the years
Have a look at PlayMichigan’s Detroit casino revenue tracker covering the past 10 years.
Image credit: Atomazul / Shutterstock.com