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. Â 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.Â
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