Detroit Casinos Suffer Third Straight Losing YearSlots Accounted For 83 Percent Of Total Gaming Revenue |
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The gambling industry in the city of Detroit, Michigan didn’t have a successful 2014. Gaming revenue fell for a third straight year.
State regulators said this week that gaming revenue at Detroit’s three casinos totaled $1.33 billion. Greektown, MGM Grand and MotorCity casinos saw their combined revenue drop 1.2 percent compared with 2013.
MotorCity was down 2.1 percent from the year before, to $445 million. MGM Grand Detroit dropped one percent, to $561.1 million, while Greektown’s revenue slumped 0.5 percent, to $326.7 million.
Slots accounted for a whopping 83 percent of total gaming revenue.
According to detroitnews.com, after counting for inflation, the Detroit casino market has declined about 16 percent since 2001, “fueling speculation that one casino could go under.” Ohio added a casino in Toledo, about an hour from Detroit, and that’s partially to blame.
According to the American Gaming Association, Michigan’s only commercial casinos are in Detroit. The first one opened there in 1999.
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