HomePublicationsNewsletter ArchiveVolume 25Issue 2MICHIGAN GAMING CONTROL BOARD RELEASES DETROIT CASINO REVENUES & WAGERING TAXES FOR FULL YEAR AND DECEMBER 2018

In a press release dated January 8, 2018, the Michigan Gaming Control Board (“MGCB” or “Board”) released the calendar year 2018 revenue figures for the three Detroit casinos – MGM Grand Detroit Casino, MotorCity Casino and Greektown Casino. During 2018, the three Detroit casinos reported a historic $1.44 billion in annual revenue, which was $20 million higher than the previous annual record of $1.42 billion set in 2011.

Casino Revenues 2018:

The three Detroit casinos reported $1.44 billion in total aggregate revenue for 2018, a 3.1% increase over 2017 totals. Slots contributed $1.17 billion, or 81%, of annual revenue, and table games brought in $272 million, or 19% of revenue.

Annual revenue rose at MGM by 4.6% to $619.2 million and at Greektown by 1.7% to $335.2 million when compared with 2017 results. MotorCity revenue gained with a 2.3% increase to $489.7 million.

Full year market shares for MGM Grand Detroit, MotorCity Casino and Greektown Casino were 43%, 34% and 23% respectively.

During 2018, the three Detroit casinos paid $117 million in gaming taxes to the state of Michigan compared with $113.4 million in 2017. The three casinos reported submitting $182.9 million in wagering taxes and development agreement payments to the City of Detroit during 2018.

December and 4Q Revenues 2018:

The three Detroit Casinos reported a total aggregate revenue of $127.4 million in December 2018, a 9.7% increase over the same  month in 2017. Total 4thQuarter revenue increased 5.6% over 4Q 2017 with a total of $361.1 million. Please see the linked State of Michigan official financial report.

During December 2018, the three Detroit casinos paid $10.3 million in gaming taxes to the state of Michigan compared with $9.4 million for the same month in 2017. The three casinos reported submitting $16.1 million in wagering taxes and development agreement payments to the City of Detroit during December 2018.

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.

 

Upcoming Events

Michigan Gaming Control Board Special Public Meeting

October 26, 2020 - 9:30 AM

 

Michigan Gaming Control Board Public Meeting

November 10, 2020 - 9:30 AM

Casino Job Board

Official Publications

 

RMC Legal

Visit our other website below: