Casino Gambling Revenue Down Five Percent In Detroit For August

August was a time for many casino operators around the country that showed some promise in their revenue figures over previous months. In Detroit, Michigan, however, that was not the case as revenue dropped by 5.4% at casinos in the city.

The Michigan Gaming Control Board on Tuesday revealed the monthly revenue figures and it was a cause of stress for many casino owners in Detroit. Overall, casino revenue dropped by 3.4% from July, to $11.57 million.

Ironically, Greektown Casino, which is currently in bankruptcy protection, had a big month of August. Their revenue increased 14.14% from the same period last year. The $30.62 million in revenue was still the lowest total of the big three.

"Even though the financial numbers don't match up, the increase in revenue shows that Greektown is making strides since new management took over,' said analsyt Chris Frantley, "They appear to be on the right track to once again being financially competitive."

MGM Grand Detroit had a revenue drop of 12.08% in August. Their revenue of $44.03 million was down from the $50.08 million they took in back in August of 2008.

MotorCity Casino revenue did not fall as hard as MGM, but still had a decline of 10.08% from last year's August. Their total revenue from 2008 was $41.07, dropping to $36.93 this year.

Greektown has made a strong push in the advertising of their casino since the new management took control in January. They have offered much better deals for customers than the other two casinos in an effort to regain the trust of gamblers.

September 8, 2009
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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