March Gaming Revenue Record High for Detroit

Detroit casinos have set a new record for gaming revenue. It is a record for March. Detroit has three commercial casinos that have managed to make a new income high. Detroit earns $138 million at casinos in March.

According to the figures released, Thursday, April 12, 2018, by the Michigan Control Board, the gaming revenue was up 5.7% more than in 2017. The highest figure for Detroit casino revenue reported was in 1999. The casinos were opened that year. The next record came in 2012 after the 2008 bank debacle was on the mend, in which casinos earned $135 million in March.

Individually, MGM Grand Detroit had a new best with 7.3 percent increase on a year to year comparison. They brought in $58 million of the reported revenue. They also beat the monthly best based on the best year—2012. In March 2012, MGM gained $57 million. Greektown Casino brought in $31 million but did not break its personal March record, which was $34.7 million in 2013.

MotorCity Casino did break their 2013 record, which was $45.8 million. The casino earned $49 million in 2018.

Despite the reports of an all-time new record, things have not gone well the entire first quarter. The revenue for the quarter is flat. The earnings are $360 million, which is about the same as a 2017s report. Even Greektown was showing a lost of 4.7 percent based on a year-on-year comparison. MGM and MotorCity had gains, about 1.6 and 1.2 percent, respectively.

April has signs of trouble with a labor strike for one casino. In fact, Caesars Windsor is not a Detroit Casino, but it is being given credit for why the three Detroit locations are doing better. The Ontario casino may remain closed due to a labor strike, which has many Canadians running across the border to play in Michigan.

Casinos Around the World

World revenue reports mirror Detroit’s gains. There are ups and downs in the casino industry. Just yesterday, it was reported that Atlantic City did not see high profits for March, but Paradise Casino half a world away reported gains for the same month.

Of course, it may not be anything like top management or advertising that is getting the Detroit casinos their revenues, unlike Paradise, which believes advertisements and a ban lift are why income is up. Detriot’s location may be the only reason for the revenue record.

Leave a Reply

Your email address will not be published. Required fields are marked *