Detroit casino revenue decline widens to 65.0%
The year-on-year decline in revenue for Detroit’s three commercial casinos has widened to 65.0% as of July 31, the final full month the venues will be closed.
The latest figures for the Michigan Gaming Control Board show that by July 31 2019, the MGM Grand Detroit, MotorCity Casino and Greektown Casino generated revenue of $854.4m.
However, with venues closed since March 16 as a result of novel coronavirus (Covid-19), the properties have not reported any revenue since that date. Their year-to-date total therefore stands at $299.2m.
Their tax contribution for the year stands at $24.2m, a $45m decline from last year’s $69.2m total for the end of July.