Led by the performance of the 400-room MotorCity Casino And Hotel, the three casinos in Detroit have reported a 3.2% growth year-on-year in aggregate revenues for July to $118.5 million.
Despite representing a 9.1% swell month-on-month, the July figures revealed via an official report from the Michigan Gaming Control Board on Tuesday show that the local market remains relatively flat with the aggregate year-to-date figure showing only a 0.5% improvement when compared with the same month in 2015.
MotorCity Casino And Hotel, which is owned by Ilitch Holdings via its IH Gaming subsidiary, saw its revenues for July advance by 4.7% year-on-year to $40.6 million while MGM Resorts International’s art deco MGM Grand Detroit venue reported a 3% boost to $50.2 million.
The Michigan city’s downtown Greektown Casino Hotel reported the trio’s lowest year-on-year increase in July revenues for July at 1.5% with the Jack Entertainment property bringing in $27.7 million over the 31-day period.
The Michigan Gaming Control Board revealed that the three Detroit casinos paid a total of $9.6 million in July gaming taxes to the state, which represented a 3.2% improvement year-on-year, while handing over $14.1 million in wagering duties and development agreement payments to the city.