Traverse City Record-Eagle

Business

November 7, 2013

Detroit casinos' revenue declines amid competition

DETROIT (AP) — Detroit’s three casinos are reporting a decline in revenue as Ohio’s gambling market draws business and gamblers spend less.

The Michigan Gaming Control Board reported figures on Tuesday showing that the combined revenue of MotorCity Casino, MGM Grand Casino and Greektown Casino has fallen 4.7 percent from a year ago through the first 10 months of 2013 to $1.13 billion.

Jake Miklojcik, president of Lansing-based Michigan Consultants, tells The Detroit News that gambling in Ohio has left the area market “fractured a little bit.”

The newspaper reports Detroit’s casinos could post the biggest year-over-year decline since they were fully operational in 2001. The other times they’ve had a collective year-over-year decline were in 2012, when revenues fell 0.5 percent, and in 2009, when revenues declined 1.5 percent.

1
Text Only

the BIZ

AP Video
US Ready to Slap New Sanctions on Russia Kerry: Not Worried About Israeli Criticism Boater Rescued From Edge of Kentucky Dam Girl Struck by Plane on Florida Beach Dies Rodents Rampant in Gardens Around Louvre House to Vote on Slimmed-down Bill for Border Looming Demand Could Undercut Flight Safety Raw: 2 Shells Hit Fuel Tank at Gaza Power Plant Raw: Massive Explosions From Airstrikes in Gaza Giant Ketchup Bottle Water Tower Up for Sale Easier Nuclear Construction Promises Fall Short Kerry: Humanitarian Cease-fire Efforts Continue Raw: Corruption Trial Begins for Former Va Gov. The Carbon Trap: US Exports Global Warming Traditional African Dishes Teach Healthy Eating
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide