In a stunning turn of events, Detroit’s three casinos reported a record-breaking revenue for the month of May 2024, reaching an astonishing $113.2 million. This news comes as a pleasant surprise to many in the industry, as the casinos have been struggling to recover from the impact of the COVID-19 pandemic.
MGM Grand Detroit, MotorCity Casino Hotel, and Greektown Casino all saw a significant increase in revenue compared to previous months, with each reporting double-digit growth. MGM Grand Detroit led the pack with revenues of $45.8 million, a 15% increase from the previous month. MotorCity Casino Hotel followed closely behind with $38.6 million in revenue, a 12% increase, while Greektown Casino reported revenues of $28.8 million, a 10% increase.
The surge in revenue can be attributed to a variety of factors, including pent-up demand from patrons who have been eager to return to the casinos after months of closures and restrictions. The easing of COVID-19 regulations and a general sense of optimism about the economy have also played a role in driving up casino attendance and spending.
In addition to the increase in revenue, the casinos also reported a rise in attendance and hotel bookings. MGM Grand Detroit, for example, saw a 20% increase in hotel occupancy rates, with many guests taking advantage of special promotions and packages offered by the casino.
The Detroit gaming industry has long been a major player in the city’s economy, providing thousands of jobs and generating millions of dollars in revenue each year. The record-breaking numbers for May 2024 signal a potential comeback for the industry, which has been hit hard by the pandemic.
Industry experts are cautiously optimistic about the future of Detroit’s casinos, noting that while the May numbers are certainly impressive, it remains to be seen whether this positive trend will continue in the coming months. However, for now, the casinos are enjoying their moment in the spotlight as they celebrate their newfound success.