Detroit Casinos Have Poor Showing In 2013Revenues Plunge By 4.7 Percent Year-Over-Year |
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The three casinos in the city of Detroit — MGM Grand Detroit, MotorCity Casino Hotel and Greektown Casino-Hotel — recorded gaming revenue of $1.35 billion for calendar year 2013, which marked a 4.7-percent decline compared to 2012. Gaming revenue refers to the amount the properties won from gamblers across all the games.
Detroit has of course been hit brutally by the Great Recession, even filing for bankruptcy. It is still sorting through its financial collapse.
Another factor for the plummeting gaming revenue is likely the new casinos in neighboring Ohio. Four have popped up in the Buckeye State over the past few years.
Detroit’s gambling revenue would translate to about $8 million less in gambling tax revenue for the city of Detroit, according to the Detroit Free Press. Casino taxes are the city’s third largest source of revenue, according to Retuers.
As the casinos in Detroit struggle, there is currently an effort to significantly restrict charity poker rooms in the state of Michigan. Some have accused casino interests of exerting influence over state officials on the issue, but that has never been substantiated.
State lawmakers authorized casino gambling in Detroit in 1996.
In addition to commercial casinos and charitable poker, Michigan has tribal gambling facilities.
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