Casino News

Detroit's casinos set new records

2008-01-15 12:14:47

Casinos in Detroit have set a new record for the amount of revenue taken in a year, raking in $1.34 billion during 2007, it has been reported.

Most of the money was generated by the MGM Grand and MotorCity casinos which generated $513.5 million and $480.2 million respectively, according to the Detroit Free Press.

Both resorts saw eight-figure revenue increases, possibly taking some of the business away from the city's third gambling hotspot Greektown Casino, which fell by $3.7 million from 2006 to $341.3 million.

The Detroit Free Press suggested the casinos were recession proof, as a struggling economy failed to dent the amount of gambling in the city.

Casinos in the area have been generating more than $1 billion every year since the turn of the century. One of the main forces behind this has been the MGM Grand, which first set up as a temporary location in 1999 before becoming a permanent fixture in October last year.