Detroit Casino Win Approaching $1 Billion For 2016Casino Industry Still Rebounding After Three-Year Slump |
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Through the first eight months of 2016, Detroit casinos have won $934 million off of gamblers, according to figures released by the Michigan Gaming Control Board.
Most recently, the three casinos won $115.9 million in August, the state said. That was about $8.5 million more than the casinos won in August 2015.
MGM Grand Detroit is leading the way this year with about $397 million in gaming revenue, followed by MotorCity Casino with just under $317 million and Greektown Casino with about $220 million. The revenues through August are up from the combined $922 million won during the first eight months of last year. The casinos won $1.37 billion last year, which reversed a downward trend that occurred since 2011’s $1.42 billion in gaming revenue.
Early last year, after the Detroit casino industry suffered its third straight losing year, a report from detroitnews.com said that, after accounting for inflation, the Detroit casino market has declined about 16 percent since 2001. The trend reportedly gave weight to the fear that one of the casinos could close. With the market growing again, those concerns appear to have dissipated.
While slot machines account for about 60 percent of total gaming revenue in Nevada, in Michigan they account for about 80 percent.
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