Detroit casinos report record-breaking revenue in 2018

3.1 percent increase in revenue from 2017

Well, Detroit's casinos are apparently doing just fine.

The Michigan Gaming Control Board released their end-of-the-year report on MGM Grand, MotorCity and Greektown casinos in Detroit.

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The three Detroit casinos during 2018 reported a record-breaking $1.44 billion in annual revenue, which was $20 million higher than the previous annual record of $1.42 billion set in 2011.

MGM Grand Detroit reported $619.2 million in annual revenue, surpassing its previous record of $604.9 million set in 2012.

MotorCity Casino also collected record annual revenue of $489.7 million, surpassing its previous revenue record of $480.2 million set in 2007.

Greektown Casino’s 2018 revenue totaled $335.2 million, falling short of its record $352.8 million set in 2011.

Overall, the casinos reported a 3.1 percent increase in revenue from 2017. Slots brought in $1.17 billion or 81 percent of revenue, and table games contributed $272 million or 19 percent of revenue. Compared with 2017 results, annual revenue for MGM rose 4.6 percent to $619.2 million.

MotorCity revenue increased 2.3 percent to $489.7 million. Greektown revenue was up 1.7 percent to $335.2 million.

The three Detroit casinos paid $117 million in gaming taxes to the state of Michigan during 2018 compared with $113.4 million during 2017.  The casinos paid $10.3 million in gaming taxes to the state in December compared with $9.4 million during December 2017.

The three casinos reported making $182.9 million in wagering taxes and development agreement payments to the city of Detroit throughout 2018. During December, the casinos reported making $16.1 million in wagering taxes and development agreement payments to the city of Detroit. 
 


About the Author:

Ken Haddad has proudly been with WDIV/ClickOnDetroit since 2013. He also authors the Morning Report Newsletter and various other newsletters, and helps lead the WDIV Insider team. He's a big sports fan and is constantly sipping Lions Kool-Aid.