Swiftmail

News

Detroit casinos generate 355m in revenue during Q3


Detroit’s three casinos reported aggregate revenue of $355m for Q3 this year, an increase of 3% for year-on-year figures.

However, while September aggregate revenue of $115.2 million saw 1% year-on-year growth, it was a 4% fall from August’s monthly revenue of $120.5 million. 

The MGM Grand Detroit took the largest share of Q3 revenue, seeing a 4% increase in year-on-year results to $153.2m.

MotorCity received $119.3m, a 2% growth. With the a 4% growth rate but third in total Q3 listings, Greektown generated revenue of $82.5m.

In September, MGM Grand Detroit took $49.7m and saw growth of 4% compared to 2017. MotorCity rose 1% in revenue and took $38.8m for the month, while Greektown saw a drop off in year-on-year figures. The casino recorded revenue of $26.7m, a decrease of 1.8%.

For the first nine months of 2018, Detroit casinos recorded $1.08 billion in aggregate revenue. This was a 2.3% increase compared with year-on-year results.

While the year-on-year figures make for positive reading, the three casinos reported a decrease in revenue when compared with August. $120.5m was the aggregate revenue for August this year, and September took $115.2m, a 4% drop.

The casinos also reported a total of $9.3m in gaming tax for September, an increase from last year’s total of $9.2m.