The trio of commercial casinos in the city of Detroit had a rather flat July after recording only a 0.3% rise year-on-year in aggregated monthly revenues to $119.3 million with the comparable increase since the start of 2018 standing at a paltry 1.7%.
Slight combined month-on-month improvement:
According to official figures from the Michigan Gaming Control Board, the July figure represented a 0.2% rise when compared to the previous month as the June aggregated revenue total hit $119.1 million and took the combined second-quarter figure to $367.9 million.
Pair record slender July advance:
The Michigan gaming regulator detailed that Greektown Casino Hotel saw its revenues for July advance by 1.8% year-on-year $27.8 million although the venue owned by local firm Jack Entertainment managed to rack up a local market share of only 23%.
The similarly-sized MotorCity Casino Hotel did not have as positive a month with the figures from the Michigan Gaming Control Board showing July revenues of $40.6 million. This figure represented an advance of only 0.3% year-on-year although the property owned by Ilitch Holdings Incorporated did manage to increase its local market share by one percentage point from June to 34%.
Comparable reversal for MGM Grand Detroit:
The figures from the Michigan Gaming Control Board showed that the city’s oldest and most lucrative casino, MGM Resorts International’s MGM Grand Detroit, saw its revenues for July drop by 0.5% year-on-year to $50.9 million with its local market share standing at 43%.
Faintly higher tax bill:
Finally, the regulator detailed that July had seen the three Wayne County casinos pay $9.7 million in state taxes, which was $100,000 more than for the same period in 2017, while they had handed over some $14.2 million to the city in order to honor pre-existing wagering and development agreements.