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Detroit casinos are booming
Detroit is the largest city of the State of Michigan. Detroit casino industry is experiencing strong growth although this industry is not as popular as in the city of Atlantic City (New Jersey) and Las Vegas (Nevada). Indeed, the three casinos in the city recorded a turnover of 4.6% more in May compared to the same month in 2014. According to the latest report released on Tuesday by the Michigan Gaming Control Board, Greektown Casino, MGM Grand and MotorCity income totaled $ 119.7 million. MGM Grand has recorded the biggest increase in May compared to a year earlier; its sales increased by 9.2% to reach $ 51.7 million. MotorCity income has increased by 1.9% to $ 39.8 million while the growth of Greektown income is more modest with 0.7% growth to 28.2 million.
In terms of market share, MGM Grand dominates the sector with 43% against 33% for MotorCity and 24% for Greektown. According to these figures of Michigan Gaming Control Board, the sector is growing. During the first five months of the current fiscal year, casino revenues increased by 5.6%, which let hope a continued growth of the casino industry in Detroit. Casino industry is actively involved in the State economy and especially in the development of the city. In addition to job creation, the three Detroit casinos paid $ 9.7 million tax last month compared to 9.3 million paid in May 2014.
Source: Oliver JOHNSON
Monday, 22 June 2015
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