MGM Grand and Detroit Make Good Business Partners

MGM Grand Detroit is up and running, and both the city and the company are much the better for it. MGM moved from a temporary casino into its permanent location last month, and revenue has jumped. The casino took in $54.9 million in October, up $15.3 million from October of 2006, an increase of over 38%.

Even more astoundingly, the increase in intake was due almost totally to new gamblers, as the two competing Detroit casinos, MotorCity Casino and Greektown Casino, both showed revenue numbers roughly equal to last October?s.

From these stats analysts conclude that MGM?S big jump occurred without draining customers from the existing base of the competition.

The three casinos have paid taxes of over $265 million to the state and city so far in 2007.

And the creation of the plush, new MGM $800 million hotel complex has led to business seeking to meet in Detroit. According to a spokesman from the Detroit Convention and Visitor?s Bureau, inquiries into Detroit hosting conventions are up 71%.

The boost in both revenue from gaming and overall tourist attendance will only continue as MotorCity opens its new hotel later this month, and Greektown continues its expansion planned for next year.

November 20, 2007
Posted By Larry Rutherford
Staff Editor, CasinoGamblingWeb.com
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