Detroit’s Licensed Casinos fall short – revenues crumble down by 4 percent

Deterioration of 4 percent registered in the revenues of operators in three Detroit licensed casinos. The January financial reports released this week revealed that the monthly operations in Detroit fell short and did not accomplish the anticipated results. An official document released by Michigan’s Gaming Control Board highlights that three casinos that currently operate in the northern city saw their revenues crumble down 4 percent in comparison with December’s report.

Michigan’s Gaming Control Board report confirmed that operations of the MGM Grand Detroit, MotorCity, and Greektown casinos accomplished a total of US$111 million last month, which represents a slight decline in the first month of the year. Fox47 News published that MGM Grand Detroit reported monthly revenue of US$47 million, MotorCity achieved US$38 million, whilst Greektown’s revenue was around US$25 million in January.

As stated in the official reports, “The city of Detroit received just over US$13 million in wagering taxes and development agreement payments last month from the casinos. The state received US$9 million in January gambling taxes from the casinos.”