HomePublicationsNewsletter ArchiveVolume 25Issue 17MICHIGAN GAMING CONTROL BOARD RELEASES DETROIT CASINO REVENUES & WAGERING TAXES FOR MAY 2019

In a press release dated June 11, 2019, the Michigan Gaming Control Board (“MGCB” or “Board”) released the May 2019 revenue figures for the three Detroit casinos – MGM Grand Detroit Casino, MotorCity Casino and Greektown Casino. The MGCB also announced the fourth consecutive month of growth for Detroit casinos in 2019.

The three Detroit casinos reported $125.7 million in aggregate revenue for May 2019, a 0.9% increase from the same month last year. The results were 0.6% above the monthly revenue in April 2019. Year-to-date aggregate revenue was 1.5% higher than in the first five months of 2018.

Please see the linked  State of Michigan official financial report.

Revenue increased at MGM by 0.1% to $54.4 million. MotorCity recorded a revenue increase of 0.9% to $41.9 million. Greektown revenue increased by 2.4% to $29.4 million compared with May 2018 results.

The May 2019 market shares for MGM Grand Detroit, MotorCity Casino and Greektown Casino were 43%, 33% and 24% respectively.

During May 2019, the three Detroit casinos paid $10.2 million in gaming taxes to the State of Michigan, compared with $10.1 million for the same month last year. The three casinos reported submitting $14.97 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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