United States: Detroit Casinos' June Revenues Increase From Same Month Last Year: Michigan Gaming Control Board Releases June 2011

Article by Ryan M. Shannon*

The Michigan Gaming Control Board ("MGCB") released the revenue and wagering tax data for June 2011 for the three Detroit, Michigan, commercial casinos. The three Detroit commercial casinos posted a collective 3.2% increase in gaming revenues compared to the same month in 2010. Aggregate gross gaming revenue for the Detroit commercial casinos decreased, however, by approximately 5.6% compared to May 2011 revenue figures, continuing the trend of a similar drop in revenues between May and June in prior years.

MGM Grand Detroit posted positive gaming revenue results for June 2011 as compared to the same month in 2010, with gaming revenue increasing by more than 2.8%. MGM Grand Detroit continued to maintain the largest market share among the three Detroit commercial casinos, and had total gaming revenue in June 2011 of more than $47.5 million. MotorCity Casino had monthly gaming revenue approaching $37 million, and posted a less than 1% improvement in June 2011 over its June 2010 revenues. Greektown Casino also posted a positive gaming revenue result in June 2011 compared to June 2010, with a 7.1% increase in total revenues. Greektown had gaming revenue of approximately $29 million for June 2011.

The revenue data released by the MGCB also includes the total wagering tax payments made by the casinos to the State of Michigan. The gaming revenue and wagering tax payments for MGM Grand Detroit, MotorCity Casino, and Greektown Casino for June 2011 were: Cas

* Ryan Shannon is an associate in Dickinson Wright's Lansing office. He can be reached at rshannon@dickinsonwright.com.

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