Detroit Casinos Suffer From Revenue Decline In 2009

Casino News - January 14th, 2010 - Written By Glen

Casinos over the entire nation have been faced with issues over reduced spending and, in some cases, higher winnings. These problems, alone or together, have been seriously hampering those affected casinos, some to the point of layoffs, firings, and bankruptcy. Through the recession, Detroit casinos had remained relatively unscathed by shortcomings, but in 2009, a decrease in revenue from the previous year had been reported.

In 2008, Detroit had seen a total revenue of $1.36 billion from its three casinos. This figure had dropped to $1.33 billion in 2009, according to the Michigan Gaming Control Board.

MGM Grand Detroit had been the leader in overall revenue over the years, but had dropped this year from $578 million down to $547. MotorCIty Casino had also shown a decline, finishing the year with $445 million in revenue, down from $464 million from the previous year. Perhaps the only fortunate casino in the state was Greektown Casino. Greektown had risen from $316 million to $346 million over the year.

December had tied off the year with a positive increase, running with a 5.1% increase from December of 2008. If the trend casinos, Detroit's casinos could remain on the rebound.

The two major gambling hubs in the United States, Vegas and Atlantic city, had both shown major declines, particularly in the case of Atlantic City, which had shown declines in the double digits. Michigan Online Casinos remain a solid contender for casinos in the state.