Detroit Casino Revenues Up
POSTED: Friday, January 12, 2007
DETROIT -- The city's three state-licensed casinos took in $1.303 billion in 2006, Michigan regulators said Friday. The 6.1 percent increase came in a year when the competing Casino Windsor had to ban smoking under a new Ontario law.
Michigan's 12.1 percent wagering tax brought in $158 million in 2006, the Michigan Gaming Control Board reported. The tax brought in $149 million on revenues of $1.229 billion in 2005.
MGM Grand Detroit Casino continued to hold the largest market share last year at 37.6 percent. Its revenues rose 6.3 percent to $490 million. It took in $461 million in 2005 and had a 37.5 percent market share.
MotorCity Casino saw its market share rise to 36 percent last year. Its revenues rose 8.4 percent to $469 million. It took in $432 million in 2005 and had a 35.2 percent market share.
Greektown Casino remained in third place and saw its market share fall to 26.5 percent in 2006. Its revenues rose 2.8 percent to $345 million. It took in $336 million in 2005 and had a 27.3 percent market share.
Ontario's indoor smoking ban took effect May 31 and led to layoffs at Casino Windsor, across the Detroit River from Detroit.
Casino Windsor announced last month that it will change its name in early 2008 to Caesars Windsor and add a new 22-story hotel and an entertainment center that officials say will draw Las Vegas-style acts.