December 11, 2012 – After two years of revenue growth, Detroit’s gambling destinations are feeling the pinch of competition from across the border in Ohio and may continue to see their cash growth stunted. The opening in late May of the Hollywood Casino Toledo has taken its bite out of the MGM Grand Detroit, MotorCity and Greektown casinos, which together generated $1.4 billion in 2011. In the six months since the Toledo gaming hall opened, revenues declined 2.1 percent for the three casinos compared with a year ago, according to the Michigan Gaming Control Board. Cash flow increased 2 percent in the five months prior to its opening.
Link to Full Article: http://www.detroitnews.com/article/20121211/BIZ/212110318/1001/