MGM Grand Detroit revenues up as competitors fall

2008-08-13 12:48:21

Detroit's MGM Grand has recorded an increase in revenue in July, while its competitors have reported a decline.

The data released by the Michigan Gaming Control Board revealed that MGM Grand Detroit had taken $50.5 million compared with $41.4 million in the same period last year, according to the Detroit News.

MGM Grand's figures correlate to 22.26 per cent improvement, which is significantly better than the casino's competitors.

MotorCity Casino's revenue dropped over seven per cent during the month and the Greektown Casino reported a 13.17 per cent decrease.

The combined overall revenue registers almost a two per cent increase, yet this is predominantly because the larger MGM Grand's income offsets the decreases in its competitors.

MGM Grand merged with Mirage Resorts in 2000 to form MGM Mirage. This company owns half of the MGM Grand Detroit, sharing it with Partners Detroit LLC.

Included in this corporation are Detroit natives Joe Davis and Jane Garcia.