HomePublicationsNewsletter ArchiveVolume 24Issue 2MICHIGAN GAMING CONTROL BOARD RELEASES DETROIT CASINO REVENUES & WAGERING TAXES FOR FULL YEAR AND DECEMBER 2017

In a press release dated January 9, 2018, the Michigan Gaming Control Board (“MGCB” or “Board”) released the calendar year 2017 revenue figures for the three Detroit casinos – MGM Grand Detroit Casino, MotorCity Casino and Greektown Casino.

Revenues 2017:

The three Detroit casinos reported $1.401 billion in aggregate revenue for  2017, a 1.1 percent increase over 2016 totals.  Slots contributed $1.14 billion, or 81 percent, of annual revenue, and table games brought in $260 million, or 19 percent.

Revenue rose at MGM by 0.01 percent to $592.2 million and at Greektown by 1.26 percent to $329.7 million when compared with 2016 results.  MotorCity led in year-over-year revenue gains with a 2.3 percent increase to $478.6 million.

Full year market shares for MGM Grand Detroit, MotorCity Casino and Greektown Casino were 42%, 34% and 24% respectively.

During 2017, the three Detroit casinos paid $113.4 million in gaming taxes to the state of Michigan compared with $112.2 million in 2016. The three casinos reported submitting $177.4 million in wagering taxes and development agreement payments to the City of Detroit during 2017.

All three casinos are subject to a wagering tax of 19%, with 10.9% of this levy payable to the City of Detroit and 8.1% payable to the State of Michigan.

December Revenues 2017:

Aggregate revenue during December fell 0.6 percent compared with December 2016 results. Please see the linked  State of Michigan official financial report.

The December 2017 market shares for MGM Grand Detroit, MotorCity Casino and Greektown Casino were 43%, 34% and 23% respectively.

During December 2017, the three Detroit casinos paid $9.4 million in gaming taxes to the state of Michigan compared with $9.5 million for the same month last year. The three casinos reported submitting $14.7 million in wagering taxes and development agreement payments to the City of Detroit during December 2017.

The figures released by the Board are the gross receipts less winnings paid to wagerers. The figures do not include: 1) any fees or other relevant city, state or federal taxes; 2) wages and benefits paid to casino employees; 3) payments to suppliers, services providers or vendors; nor 4) other normal business expenses.

 

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