HomePublicationsNewsletter ArchiveVolume 24Issue 19MICHIGAN GAMING CONTROL BOARD RELEASES DETROIT CASINO REVENUES & WAGERING TAXES FOR MAY 2018

In a press release dated June 12, 2018, the Michigan Gaming Control Board (“MGCB” or “Board”) released the April 2018 revenue figures for the three Detroit casinos – MGM Grand Detroit Casino, MotorCity Casino and Greektown Casino.

The three Detroit casinos reported $124.6 million in aggregate revenue for May 2018, a 0.5 % increase from the same month last year. The results were 1.2% above the monthly revenue  for April 2018.

Please see the linked  State of Michigan official financial report.

Revenue increased at MGM by 7.6% to $54.3 million. MotorCity recorded a revenue increase of 2.2% to $41.5 million. Greektown revenue increased by 0.02 % to $28.8 million compared with May 2017 results.

The May 2018 market shares for MGM Grand Detroit, MotorCity Casino and Greektown Casino were 44%, 33% and 23% respectively.

During May 2018, the three Detroit casinos paid $10.1 million in gaming taxes to the State of Michigan, compared with $9.7 million for the same month last year. The three casinos reported submitting $14.8 million in wagering taxes and development agreement payments to the City of Detroit in May.

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.

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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