The Michigan Gaming Control Board has released the December 2007 results for the three Detroit casinos, MGM Grand, MotorCity, and Greektown. The full year 2007 results were also released.
For December 2007, MGM Grand Detroit's revenues were $46,746,114, which is down approximately $40,000 from November 2007. Year-over-year, the December 2007 revenues were up $4,000,000 from December 2006. For the full year, MGM Grand Detroit's revenues were $513,480,980, up $24,000,000 from 2006.
MotorCity's revenues for December 2007 were $39,522,591, which was up approximately $1,200,000 from November 2007. The December 2007 revenues were down $3,500,000 from December 2006. For the full year, MotorCity's revenues were $415,214,415, up $11,500,000 from 2006.
Greektown, which is the only Detroit casino not to have opened its hotel yet, revenues for December 2007 were $27,375,747, which was down approximately $750,000 from November 2007. December 2007's revenues were down $2,700,000 from December 2006. Full year revenues for 2007 were down $3,700,000 versus 2006 for Greektown.
These revenue increases was good for a 2.4% increase over 2006 revenues, which is the slowest since the Detroit casinos opened.
These are troubling numbers for Greektown and MotorCity.
For MotorCity, the trouble is that the casino has opened new gaming areas and its hotel, yet revenues for December 2007 were substantially lower than December 2006.
The trouble for Greektown is more substantial. Greektown has long blamed its third-place revenue finishes on the casino's lack of abundant free parking close to the casino. Yet, even after November 15, 2007, when Greektown opened its 2,900 space free parking structure connected to the casino, Greektown's revenues continue to lag.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment