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Competition cuts into Detroit's casino business

casino (Reuters)
casino (Reuters)

DETROIT (WKZO) -- Detroit's three casinos are reporting a drop in revenue since the opening of a competing casino in Toledo.

The figures released by the Michigan Gaming Board show a drop of nearly one-percent in revenue at the MGM Grand, 2.3-percent at Greektown Casino, and a nearly four-percent decline at the Motor City.  Prior to the opening of the Hollywood Casino in Toledo, both the MGM and Greektown venues were posting an increase over 2011 revenue.

Year to date, MGM and Greektown are slightly ahead of last year while cash intake at the Motor City casino is down nearly three percent.