Detroit's casinos Tuesday reported a 3.1 % increase in combined revenue in October compared to the same month a year ago, signaling growing confidence in the economy.
Through the first 10 months of the year, revenue rose 2.7 % at the MGM Grand Detroit, MotorCity Casino Hotel and Greektown Casino Hotel compared with last year's January-October period.
The gains are likely due to increased optimism about the economy and weak 2009 performance, said Tom Nelson, principal with Haslett, Mich.-based Gaming Regulatory Consultants LLC.
Revenue at MGM Grand Detroit last month rose 4.2 % to $46.8 million from $44.9 million in October 2009. MGM, which holds the city's largest casino market share, has experienced the biggest revenue gain this year.
Through the first 10 months of the year, revenue rose 2.7 % at the MGM Grand Detroit, MotorCity Casino Hotel and Greektown Casino Hotel compared with last year's January-October period.
The gains are likely due to increased optimism about the economy and weak 2009 performance, said Tom Nelson, principal with Haslett, Mich.-based Gaming Regulatory Consultants LLC.
Revenue at MGM Grand Detroit last month rose 4.2 % to $46.8 million from $44.9 million in October 2009. MGM, which holds the city's largest casino market share, has experienced the biggest revenue gain this year.
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