HomePublicationsNewsletter ArchiveVolume 25Issue 5MICHIGAN GAMING CONTROL BOARD RELEASES DETROIT CASINO REVENUES & WAGERING TAXES FOR JANUARY 2019

In a press release dated February 13, 2019, the Michigan Gaming Control Board (“MGCB” or “Board”) released the January 2019 revenue figures for the three Detroit casinos – MGM Grand Detroit Casino, MotorCity Casino and Greektown Casino.

The three Detroit casinos reported $112 million in aggregate revenue for  January 2019, a 0.5% increase from the same month last year. The results were 12.1% below the monthly revenue in December 2018.

Please see the linked  State of Michigan official financial report.

Revenue increased at MGM by 2.5% to $48.9 million. MotorCity recorded a revenue decrease of 1.5% to $37.4 million. Greektown revenue decreased by 0.1% to $25.7 million compared with January 2018 results.

The January 2019 market shares for MGM Grand Detroit, MotorCity Casino and Greektown Casino were 44%, 33% and 23% respectively.

During January 2019, the three Detroit casinos paid $9.08 million in gaming taxes to the State of Michigan, compared with $9.03 million for the same month last year. The three casinos reported submitting $13.3 million in wagering taxes and development agreement payments to the City of Detroit in January.

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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