Gaming News

Detroit Casinos Revenues Up

DETROIT, Michigan – As reported by the Detroit Free Press: "Detroit's three casinos raked in more than $1.18 billion in 2004, a 5.2-percent increase, with both MGM Grand Detroit and MotorCity increasing revenues while Greektown lost some ground.

"The casinos paid a combined $111 million in state taxes and $140 million to the City of Detroit in taxes and fees in 2004, an annual report compiled by the Michigan Gaming Control Board shows.

"…While both MotorCity and MGM Grand were affected by construction on the Lodge Freeway this fall, Greektown's parking squeeze was partly to blame for the casino's drop in revenue, an analyst said Monday.

"…Detroit casinos also saw a boost in 2004 because of a contentious 41-day strike at Casino Windsor. The U.S. dollar also weakened in comparison to the Canadian dollar and that kept some gamblers on this side of the Detroit River, said MGM Grand Detroit spokesman Bob Berg.

"…Total Detroit casino revenues have hovered around the $1-billion mark for four years, raising concerns that the market has reached its saturation point for local gamers…"

< Gaming News