Detroit casinos surprisingly stable in 2010
March 3, 2011
While larger gaming markets in Atlantic City and Las Vegas foundered through 2010, Detroit and its three casinos posted positive revenue results for the year, according to the Detroit News.
MGM Grand Detroit, the city’s largest casino, fared the best, with $582 million in revenue, a 6 percent increase over 2009. Meanwhile, Greektown Casino experienced a 1 percent growth in revenue to $350 million and MotorCity earned $446 million in 2010, essentially equaling what it did in 2009.
Combined 2010 revenue for the Detroit casinos was $1.4 billion, which outdistanced 2009 results by 2.9 percent.
Analysts said the Detroit casino revenue results primarily stemmed from consumer desire to stay and play locally and regionally instead of taking expensive trips to larger gaming markets elsewhere in the U.S.
Detroit’s positive 2010 also appeared to be carrying over into 2011—January revenue results for the market showed a 3.3 percent increase compared to a year ago.
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