HomePublicationsNewsletter ArchiveVolume 25Issue 18MICHIGAN GAMING CONTROL BOARD RELEASES DETROIT CASINO REVENUES & WAGERING TAXES FOR JUNE 2019 AND 2ND QUARTER 2019

In a press release dated July 16, 2019, the Michigan Gaming Control Board (“MGCB” or “Board”) released the June 2019 revenue figures for the three Detroit casinos:  MGM Grand Detroit Casino, MotorCity Casino and Greektown Casino. The MGCB released numbers for the second quarter of 2019 as well.

The three Detroit casinos reported $117.5 million in aggregate revenue for  June 2019, a 1.4% decline from the same month last year. The results were 6.6% below the monthly revenue in May 2019.

Please see the linked  State of Michigan official financial report.

Revenue decreased at MGM by 2.2% to $50.7 million. MotorCity recorded a revenue increase of 0.7% to $39.9 million. Greektown revenue decreased by 2.8% to $26.9 million, all compared with June 2018 results.

The June 2019 market shares for MGM Grand Detroit, MotorCity Casino and Greektown Casino were 43%, 34% and 23% respectively.

During June 2019, the three Detroit casinos paid $9.5 million in gaming taxes to the State of Michigan, compared with $9.6 million for the same month last year. The three casinos reported submitting $14 million in wagering taxes and development agreement payments to the City of Detroit in June 2019.

Second Quarter  Report 2019

Second quarter combined aggregate revenue of $368.4 million was a 0.2% increase from the same period last year. For the quarter, MGM Grand Detroit reported a .07% increase in revenue at $157.5 million. Greektown revenue at $85.6 million was up .03%. MotorCity’s quarterly revenue of $125.3 million was up .34% compared with last year. The state received $29.84 million in gaming taxes for the second quarter compared with $29.79 million paid in 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 Public Meeting

October 13, 2020 - 9:30 AM

Casino Job Board

Official Publications

 

RMC Legal

Visit our other website below: