Casino
November 11, 2020
Detroit Casinos Report $101.4 Million Revenue in October, 18.9% Drop Year-on-Year
Aggregated revenue from Detroit’s three casinos totaled $101.4 million while operating at 15% since reopening this summer. October Results Better Than September Detroit’s three casinos reported $101.4 million in revenue in October. Compared with September’s results, revenue increased by 6.7%. Casinos still operate at 15% capacity to limit the spread of Covid-19. Slot machines and […]
Business
October 28, 2020
MotorCity Expands on Debt amid Fears of Second Closure
MotorCity Casino Hotel in Detroit is making provisions in case a second lockdown on the business is imposed. The Ilitch-owned gambling establishment got an approval from the Michigan Gaming Control Board (MGCB) during a special meeting Monday to expand on its revolving credit facility and overall finance model. MGCB Unanimously Approved the Plan The casino […]
Business
October 18, 2020
Detroit Casinos’ September Revenues Drop, Paying Less Tax
The Michigan Gaming Control Board (MGCB) released Wednesday the September revenue figures for the commercial casinos in Detroit, reporting a year-over-year drop in slot and table game verticals. MGM Grand Detroit, MotorCity Casino Hotel, and Greektown Casino-Hotel generated $87.9 million in gambling revenues, plus another $4.4 million in adjusted receipts from sports betting. The reported […]
Casino
August 4, 2020
Michigan Casinos Contribute $6.3B Annually, AGA Reports
$6.3 billion is the estimated annual impact from casinos in Michigan, a research by the American Gaming Association (AGA) shows. The state’s 24 tribal and 3 commercial casinos generate to the extent of $1.3 billion per year in taxes and tribal revenue sharing, supporting 37,911 jobs and $2.1 billion annually in wages. Casinos Spurred Economic […]
Casino
March 30, 2020
Casinos In Detroit Extend Closure Putting Workers On Furlough
The three main casinos in Detroit have extended the temporary closure by two more weeks, at least until April 13, as the coronavirus /Covid-19/ outbreak in the state worsens, leaving thousands of its employees with no paychecks. Health Situation Requires Extension The initial period for the temporary shutdown of operations expires Tuesday, March 31, and […]