The Michigan Gaming Control Board released revenue data for the three Detroit casinos, and MGM Resorts International MGM’s MGM Grand rolled over its competition to grab the No. 1 slot.
MGM Grand was the only Detroit casino to see its revenues rise month-over-month, up 0.3 percent while MotorCity and Greektown casinos each saw revenue fall by about 2 percent. Additionally, MGM Grand holds 33 percent more market share than MotorCity and 91 percent more than Greektown.
MGM Resorts saw its price target boosted to $30 per share by a Stifel Nicolaus analyst last week. The analyst reiterated the firm’s Buy rating.
MGM Resorts shares traded flat on Tuesday.
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