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Casino Operations for May
Detroit Casino Revenues and Wagering Taxes for
Casino Operations - May 2011
Aggregate revenue for all three Detroit casinos for the month of May 2011 was up by 2.7 percent compared to the same month last year. However, revenue was down by 4.2 percent compared to April 2011.
Revenue for MGM, MotorCity and Greektown was up by 4.8 percent to $51.2 million, 1.1 percent to $38.8 million and 1.2 percent to $30.0 million respectively compared to the same month last year.
The market shares for MGM, MotorCity, and Greektown for the month of May 2011 were 43 percent, 32 percent, and 25 percent, respectively.
For the month of May 2011, gaming taxes for the three Detroit casinos were $9.7 million compared to $7.1 million for the same period last year. (Gaming taxes were lower in 2010 due to the rollback of a reduced tax rate for Greektown in March 2010, which created a tax credit that was utilized through September 2010.)