For those who believed that casinos revenues were immune to the whims of the general economy, October revenues for the three Detroit casinos provided more evidence to the contrary.
In the aggregate, gaming revenues fell $7.1 million in October for the three Detroit casinos.
The lone bright spot was the MotorCity Casino, which saw its revenues increase slightly to $37.9 million, from $37.7 million in October 2007.
MGM Grand Detroit saw the largest drop, to $48.4 million, from $54.9 million in October 2007. MGM's year-over-year numbers are slightly deceiving, however, as October 2007 was the month of MGM's grand-opening of its permanent casino. Accordingly, its October 2007 revenues were unnaturally high.
Greektown Casino continued its slow march into irrelevance, with its revenues dropping to $24.7 million, from $25.6 million in October 2007.
Saturday, November 08, 2008
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