Trending...
- Gary Bernstein Expands Media Leadership Role With Senior Strategic Advisor Appointment To Blacksun Private Equity - 206
- Warrant Activity, AVERSA™ Progress and a Potentially Transformative Fall Take Center Stage: Nutriband Inc. (N A S D A Q: NTRB) - 176
- Building a Diversified Healthcare Platform as Exosome Science, Telehealth, Diagnostics & Strategic Acquisitions Converge: NexTel Medical (OTCID: MAJI) - 152
Contact: Mary Kay Bean 313-456-1344
Detroit, Sept. 10, 2019 - The three Detroit casinos' year-to-date aggregate revenue of $974.3 million was up 0.7 percent compared with revenue for the first eight months of 2018. The casinos reported August aggregate revenue of $119.8 million, declining 0.5 percent from August 2018 revenue but topping July 2019 revenue by 0.7 percent.
MGM's monthly revenue rose 0.7 percent to $53 million compared with August 2018, and MotorCity reported a 0.4 percent increase to $40 million. At Greektown, August monthly aggregate revenue fell 4.2 percent from year-earlier results to $26.8 million.
Also, at Tuesday's public meeting, the Michigan Gaming Control Board approved the annual license renewal for each of the three Detroit casinos.
More on Michimich.com
The casinos' August market shares were:
During August, the three Detroit casinos paid $9.7 million in gaming taxes compared with $9.8 million paid during August last year.
The three Detroit casinos reported submitting $18.5 million in wagering taxes and development agreement payments to the City of Detroit during August. On Aug. 21, MGM Grand Detroit recorded $400 million in 2019 adjusted gross revenue (AGR), or net win, which triggers a $4 million payment and a 1 percent tax increase paid to the City of Detroit under the casino's development agreement with the municipality. It is the soonest MGM Grand Detroit has reached the $400 million AGR mark since inception.
"The Michigan Gaming Control Board shall ensure the conduct of fair and honest gaming to protect the interests of the citizens of the State of Michigan."
Detroit, Sept. 10, 2019 - The three Detroit casinos' year-to-date aggregate revenue of $974.3 million was up 0.7 percent compared with revenue for the first eight months of 2018. The casinos reported August aggregate revenue of $119.8 million, declining 0.5 percent from August 2018 revenue but topping July 2019 revenue by 0.7 percent.
MGM's monthly revenue rose 0.7 percent to $53 million compared with August 2018, and MotorCity reported a 0.4 percent increase to $40 million. At Greektown, August monthly aggregate revenue fell 4.2 percent from year-earlier results to $26.8 million.
Also, at Tuesday's public meeting, the Michigan Gaming Control Board approved the annual license renewal for each of the three Detroit casinos.
More on Michimich.com
- Kaplan Morrell and Attorney Jacqui Condon Selected to Represent Professional Women's Soccer Players in Workers' Compensation Matters
- ClearSight Therapeutics Receives NIH SBIR Phase I Award for Conjunctivitis and EKC Research
- Lunai Bioworks (N A S D A Q: LNAI) Takes Parkinson's Discovery to the Next Level With Exclusive Tanaist Agreement
- Revenue Optics Names Prat Patibandla Director of Growth Marketing
- CIMdata to Host Free Educational Webinar on Navigating PLM End-of-Life
The casinos' August market shares were:
- MGM, 44 percent
- MotorCity, 34 percent
- Greektown, 22 percent
During August, the three Detroit casinos paid $9.7 million in gaming taxes compared with $9.8 million paid during August last year.
The three Detroit casinos reported submitting $18.5 million in wagering taxes and development agreement payments to the City of Detroit during August. On Aug. 21, MGM Grand Detroit recorded $400 million in 2019 adjusted gross revenue (AGR), or net win, which triggers a $4 million payment and a 1 percent tax increase paid to the City of Detroit under the casino's development agreement with the municipality. It is the soonest MGM Grand Detroit has reached the $400 million AGR mark since inception.
"The Michigan Gaming Control Board shall ensure the conduct of fair and honest gaming to protect the interests of the citizens of the State of Michigan."
0 Comments
Latest on Michimich.com
- Visit London Appoints The SEO Works for AI-First Search Strategy
- Inglewood Associates and Gordon Brothers Provide Update on Sale Process for 925 Euclid Avenue in Cleveland
- Century Fasteners Corp. Exhibiting at the 2026 International Fastener Expo
- Las Vegas Attorney Thomas Boley Publishes Free Plain-English Guide to 100 Nevada Criminal Laws, in English and Spanish
- Bank Statement Loans Up to $30 Million: Lendmire Announces High-Net-Worth Financing
- Total Detail: Empty Your Vehicle Before Your Detailing Appointment for Best Results
- LaChance Brothers Excavating Encourages Homeowners to Prepare Septic Systems Before Winter Arrives
- NYC Big Book Award Celebrates 10th Anniversary with Announcement of 2026 Winners
- Regional Magazines Shine at IRMA Awards
- From Surgery to Canvas: Anthony M. T. Majewski's ArtPrize Journey, One Stroke at a Time
- Matt Zavala of Zavala Law, PC Selected to the 2027 Super Lawyers List
- Sawgrass Ford President Attributes Dealerships Success to Long-Term Employees
- Ragin' Cajun Announces New Cheeseburger Seasoning on National Cheeseburger Day
- Warrant Activity, AVERSA™ Progress and a Potentially Transformative Fall Take Center Stage: Nutriband Inc. (N A S D A Q: NTRB)
- Put Your Herd on Your Phone: Kiko Nation Makes Livestock Management Simple
- Future Intelligence Think Tank Surpasses 1,000 Members Exploring Human and Artificial Intelligence
- Gary Bernstein Expands Media Leadership Role With Senior Strategic Advisor Appointment To Blacksun Private Equity
- Headline: House of Nova Paints Every Face in Gold at New York Fashion Week
- Can Government Operate Better Through Innovation?
- Michael H. Kaplan Advocates for Seriously Injured Colorado Workers Who Need In-Home Care