HomePublicationsNewsletter ArchiveVolume 25Issue 30MICHIGAN GAMING CONTROL BOARD RELEASES DETROIT CASINO REVENUES & WAGERING TAXES FOR OCTOBER, 2019

In a press release  dated November 5, 2019, the Michigan Gaming Control Board (“MGCB” or “Board”) released the October 2019 revenue figures for the three Detroit casinos – MGM Grand Detroit Casino, MotorCity Casino and Greektown Casino.

The three Detroit casinos reported $115.7 million in aggregate revenue for October 2019, which was an increase of 3 percent from September.   Revenues were 0.3 percent below the monthly revenue in October 2018. The year-to-date aggregate revenue totaled 1,202,235,385. 

Please see the linked  State of Michigan official financial report.

MotorCity saw a 1.9 percent increase in revenue to $39.3 million compared with October 2018. Both MGM and Greektown experienced year-over-year declines for the month. MGM revenue at $48.9 million was down 1.8 percent, and Greektown revenue at $27.5 million was off 0.4 percent compared with October 2018 results.

The October 2019 market shares for MGM Grand Detroit, MotorCity Casino and Greektown Casino were 42%, 34% and 24% respectively.

During October, gaming taxes for the three Detroit casinos paid $9.37 million in state gaming taxes compared to $9.39 million for the same period last year. The three Detroit casinos reported submitting $14.3 million in wagering taxes and development agreement payments to the City of Detroit during October.

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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