Detroit Casino News - 2004
December
29, 2004
Casino Windsor
reported to the Windsor Star that its staff held several food and
toy drives in early December to provide donations in the amount of
$82,000 for distribution in Windsor and Essex County.
December 14, 2004
The Michigan Gaming
Control Board released the November 2004 Total Adjusted Revenue for
the three Detroit casinos. MGM Grand Detroit Casino's November 2004
total adjusted revenue was $33,548,680.97 compared to $33,489,340.23
in October; MotorCity Casino's November 2004 total adjusted revenue
was $35,182,101.27 compared to $35,944,840.07 in October; and
Greektown Casino's November 2004 total adjusted revenue was
$24,719.193.14 compared to $26,442,742.12 in October.
December 3, 2004
MGM's plan, announced
earlier this year, to combine with Mandalay Resort Group
necessitates the sale of either 53.3 percent of the MotorCity Casino
or the MGM Grand Detroit Casino. This is because the Michigan Gaming
Control and Revenue Act provides that a casino operator licensee
cannot own more than 10 percent of another Detroit casino operator.
Initially, MGM thought it would sell its share in MotorCity, but
questions concerning the possible sale of MGM Grand Detroit Casino
have initiated research into all possibilities. Both casinos have
historically had more than a third of the $1.2 billion Detroit
casino market.
November 9, 2004
The Michigan Gaming
Control Board released the October 2004 Total Adjusted Revenue for
the three Detroit casinos. MGM Grand Detroit Casino's October 2004
total adjusted revenue was $33,489,340.23 compared to $32,601,312.44
in September; MotorCity Casino's October 2004 total adjusted revenue
was $35,944,840.07 compared to $33,784,356.27 in September; and
Greektown Casino's October 2004 total adjusted revenue was
$26,442,742.12 compared to $25,493,993.34 in September.
November 4, 2004
With 5,800 of
Michigan's 5,806 precincts counted, Michigan voters approved the
passage of Proposal 1 with Yes votes of 2,680,974 versus 1,922,049
No votes. Proposal 1 amends the Michigan Constitution to require
both statewide and local voter approval for "any new state lottery
games utilizing table games or player operated mechanical or
electronic devices introduced after January 1, 2004." The three
Detroit casinos and tribal casinos are excluded from this amendment.
November 2, 2004
Michigan voters
approved passage of Proposal 1, the Proposal to amend the Michigan
Constitution to require both statewide and local voter approval for
"any new state lottery games utilizing table games or player
operated mechanical or electronic devices introduced after January
1, 2004." This amendment excludes the three Detroit casinos and
Michigan's Indian casinos. With 95 percent of the precincts counted,
the Proposal was adopted with 2,564,440 Yes votes (58 percent) and
1,839,634 No votes (42 percent).
October 20, 2004
One issue concerning
the three-week workers' strike at seven Atlantic City casinos is a
shorter contract length (three years instead of five). By reducing
the contract length to three years, expiration will occur at the
same time the Detroit, Indiana and Las Vegas casino workers'
contracts end. UNITE HERE International Union Local 54 union leaders
believe this will give them more power in the next gaming industry
contract negotiations.
October 14, 2004
The first TV ad
opposing Proposition 1 and starring Governor Jennifer Granholm and
House Speaker Rick Johnson (R-LeRoy) was aired.
October 12, 2004
The Michigan Gaming
Control Board released the September 2004 Total Adjusted Revenue for
the three Detroit casinos. MGM Grand Detroit Casino's September 2004
total adjusted revenue was $32,601,312.44 compared to $35,568,470.92
in August; MotorCity Casino's September 2004 total adjusted revenue
was $33,784,356.27 compared to $36,958,351.13 in August; and
Greektown Casino's September 2004 total adjusted revenue was
$25,493,993.34 compared to $25,757,196.16 in August. As Public Act
306 of 2004 became effective on September 1, 2004, this is the first
month the three Detroit casinos have been required to pay the
increased wagering tax (24 percent) on adjusted gross gaming
revenue. The six percent increase is split with a four percent
increase going to the state and a two percent increase to the City
of Detroit.
October 11, 2004
School groups,
including Michigan Federation of Teachers & School-Related
Personnel, Michigan Education Association, Michigan School Business
Officials and the Michigan Parent Teacher Student Association, spoke
out against Proposal 1 saying it could reduce Lottery revenue used
to pay for public schools.
October 6, 2004
The Eastern Division
of Casino Management Association recognized President and CEO of
Windsor Casino Limited Kevin Laforet as "Gaming Professional of the
Year." Mr. Laforet's award was presented by 2003 Winner Sal Semola
at a Communication Awards Reception at the Global Gaming Expo in Las
Vegas, Nevada.
September 27, 2004
The Secretary of
State released campaign finance reports concerning political
contributions and expenses for both the pro and con sides of
Proposal 1. Proposal 1's support group, "Let Voters Decide, Yes,"
has obtained $3.54 million from the Saginaw Chippewa Indian Tribe,
$3.2 million from MGM Grand, $823,000 from Little River Band of the
Ottawa Indians and $311,000 from Greektown. Paying for PR experts
and strategists, collecting the supporting signatures to put
Proposal 1 on the November ballot and TV ads amounted to
expenditures of $7.55 million. The anti-Proposal 1 group, "No Casino
Monopoly," is being funded by Michigan's seven horse racing
facilities. Contributions to the Proposal 1 opposition include:
$333,000 from Hazel Park Harness Raceway, $167,000 from Saginaw
Valley Downs, $166,000 from Jackson Trotting Association, $167,000
from Northville Downs, $100,000 from Northville Racing Corp.,
$100,000 from Michigan Racing Association and $67,000 from the
Northville Driving Club. The anti-Proposal 1 group spent $999,462
for advertising on several southeast Michigan television stations.
September 24, 2004
An impact analysis
regarding Proposal 04-1 released by Lansing-based Citizens Research
Council indicates that the requirement of both local and statewide
voter approval for any gaming expansion other than American Indian
facilities and the three Detroit casinos after January 1, 2004 would
be "troublesome" to Lottery Bureau efforts to provide new games.
According to the analysis, "The proposed amendment will have no
immediate impact on Lottery games, but may burden the Bureau of
State Lottery in efforts to capitalize on technological developments
in the future."
September 21, 2004
Backers for Proposal
04-1 kicked off the official campaign with press conferences in
Grand Rapids and Detroit. The "Let Voters Decide, Yes" coalition
describes the ballot proposal as: "A constitutional amendment on the
Nov. 2 General Election ballot that … would give Michigan voters the
power to approve future casino-style gambling expansions proposed by
the state."
September 20, 2004
Cutting of a 20 by 40
foot cake by Windsor Mayor Eddie Francis and Windsor Casino
President Kevin Laforet began Casino Windsor's 10th anniversary
festivities. Plans for the 10-day celebration include prize
giveaways, a free slot tournament, laser light shows, aerial
acrobats over the atrium waterfall and other entertainment.
September 15, 2004
The Michigan Gaming
Control Board released the August 2004 Total Adjusted Revenue for
the three Detroit casinos. MGM Grand Detroit Casino's August 2004
total adjusted revenue was $35,568,470.92 compared to $37,115,573.42
in July; MotorCity Casino's August 2004 total adjusted revenue was
$36,958,351.13 compared to $38,634,302.35 in July; and Greektown
Casino's August 2004 total adjusted revenue was $25,757,196.16
compared to $27,387,306.15 in July.
September 15, 2004
The Michigan Chamber
of Commerce announced its decision to remain neutral concerning
Proposal 04-1.
September 14, 2004
MGM announced a
150-employee lay off as a result of the 33 percent increase in
Detroit casino taxes. The wagering tax was raised from 18 to 24
percent.
September 14, 2004
In a press
conference, discussing the ballot proposal to limit new casino-style
gambling unless it is approved by both a statewide and local vote,
Governor Jennifer Granholm viewed the proposal as wrong for the
state. She said, "I believe it could jeopardize education funding."
She has not decided whether or not to be in an advertisement
opposing Proposal 04-1.
September 5, 2004
Officials at Casino
Windsor are considering expanding the facility. Windsor Casino Ltd.
President and CEO Kevin Laforet told The Detroit News, "Just
standing pat in a competitive market won't do. We're looking at a
lot of options for expansion."
September 2004
A Yale University
study, published in the September issue of the American Journal of
Psychiatry, indicates that recreational gamblers 65 and older appear
to be healthier than their non-gambling peers. The findings were
based on phone interviews with 2,400 people.
September 1, 2004
Public Act 306 of
2004 went into effect. This new law increases the wagering taxes
paid by the three Detroit casinos from 18 percent to 24 percent, a
33 percent tax increase.
August 23, 2004
The Board of State
Canvassers certified the 443,445 signatures gathered by "Let Voters
Decide, Yes" in support of a petition to place a Michigan
Constitutional Amendment Referendum on Michigan's November 2004
ballot. The proposed Amendment would require approval from both
statewide and local voters for any gaming expansion in the state,
other than American Indian gaming and the three Detroit casinos,
after January 1, 2004. To view the official ballot language the
Bureau of Elections released, click here.
August 17, 2004
Michigan Governor
Granholm signed House Bill 4612 into effect as Public Act 306 of
2004. This Act will increase the three Detroit casinos' wagering tax
from 18 percent on adjusted gross gaming revenue to 24 percent.
There are provisions to reduce this tax 1) if Video Lottery
Terminals are legalized at Michigan's horse racetracks; or 2) when
an operator's permanent casino is completed and operating.
August 16, 2004
Greektown Casino
eliminated 182 casino jobs due to the 33 percent increase (from 18
to 24 percent) in the taxes paid by the Detroit casinos. Detroit
residents filled 60 percent of the cut positions; 130 of the lost
jobs were full-time positions. The tax increase goes into effect on
September 1, 2004.
August 13, 2004
The Michigan Gaming
Control Board released July 2004 Total Adjusted Revenue for the
three Detroit casinos. MGM Grand Detroit Casino's July 2004 total
adjusted revenue was $37,115,573.42 compared to $33,590,721.92 in
June; MotorCity Casino's July 2004 total adjusted revenue was
$38,634,302.35 compared to $34,369,225.88 in June; and Greektown
Casino's July 2004 total adjusted revenue was $27,387,306.15
compared to $25,476,629.27 in June.
August 10, 2004
The Michigan Gaming
Control Board adopted Resolution 2004-04 which establishes new
criteria by which supplier license applicants who have made
political contributions during their application period may be
granted a waiver from enforcement of certain Administrative Rules.
In an effort to lighten the political contribution penalty in
certain instances, the Board may waive the one-year period for
reapplication and fees for the reapplication if it is found that the
political contribution(s) were not made with the intent of
influencing the supplier licensing process or any licensing,
regulation or legislation related to the Gaming Control and Revenue
Act.
August 4, 2004
The Michigan
Legislature passed an amendment to the Michigan Gaming Control and
Revenue Act which increases the three Detroit casino operators'
gaming revenue taxes from 18% to 24% effective September 1.
August 4, 2004
With a 93-15 vote,
the second conference report on HB 4612 was passed by the Michigan
House. This legislation proposes to increase the tax rate by 33
percent for the three Detroit casinos. The current taxation rate is
18 percent; with the new legislation, the tax rate would be 24
percent. This measure would provide additional revenue in the amount
of $50 million toward filling the state's budget deficit. As this
legislation changes the state's gaming law, a three-quarter majority
vote (82) was required to pass it. This version of the bill includes
a provision that would roll the rate back to 20 percent if the
casinos build the hotel complexes as promised by December 2006 and a
provision to drop the rate back to 18 percent if racinos (which
would be competitive with the casinos) are legalized.
August 3, 2004
The Michigan
Legislative Conference Committee met in Lansing to discuss House
Bill 4612, the Bill seeking to increase the Detroit casino wagering
tax. A broad-based coalition has formed in hopes of defeating any
tax increase that would jeopardize jobs and construction contracts.
The groups opposing the Detroit tax hike include: Michigan Chamber
of Commerce; Detroit Regional Chamber; Atwater Casino Group;
Associated General Contractors of America (Greater Detroit Chapter);
Construction Association of Michigan; Detroit Black Chamber of
Commerce; Greater Detroit Building & Construction Trades; Great
Lakes Fabricators & Erectors Association; IBEW Local 58; Iron
Workers Local 25; Journeyman Plumbers Local 98; Michigan State
Building and Construction Trades Council; Michigan Regional Council
of Carpenters; MUST (Management and Unions Serving Together); PACE
Mechanical Services, Inc.; Pipe Fitters Local 636; Plumbing &
Mechanical Contractors of Detroit; Sheet Metal Workers Local 80; and
SMACNA Metropolitan Detroit Chapter.
July 20, 2004
House Minority Leader
Dianne Byrum (D-Onondaga) and Senate Minority Leader Bob Emerson
(D-Flint) informed Racino bill (HB 4610) supporters of Michigan
Democrats' decision to oppose the proposed legislation until
Michigan voters decide the outcome of the November ballot proposal
concerning new and/or expanding gaming activity.
July 19, 2004
Governor Granholm
called off formal budget negotiations with lawmakers until the House
and Senate have the opportunity to compromise on how much to raise
the Detroit casino tax. The proposed House legislation calls for
doubling the tax, while the Senate proposes a 33 percent increase.
July 15, 2004
The Michigan Gaming
Control Board released June 2004 Total Adjusted Revenue for the
three Detroit casinos. MGM Grand Detroit Casino's June 2004 total
adjusted revenue was $33,590,721.92 compared to $41,179,721.54 in
May; MotorCity Casino's June 2004 total adjusted revenue was
$34,369,225.88 compared to $39,202,887.35 in May; and Greektown
Casino's June 2004 total adjusted revenue was $25,476,629.27
compared to $28,280,670.06 in May.
July 6, 2004
With a 29-vote
majority, the Michigan Senate passed a measure to increase taxes
paid by the three Detroit casinos. The House, however, rejected the
Senate version of House Bill 4612 and forwarded it to a House-Senate
Conference Committee for negotiation.
July 2, 2004
More than 460,000
petition signatures were submitted in support of a ballot proposal
that would require voters' approval of any additional gaming
expansion (other than American Indian casinos and the three Detroit
casinos) after January 1, 2004. The proposed Amendment language
requires that any new gaming facilities receive both statewide and
community voter approval.
June 29, 2004
At a press conference
in Lansing, the Michigan Chamber of Commerce, the Detroit Regional
Chamber of Commerce, the Detroit Black Chamber of Commerce, the
Construction Association of Michigan, the Plumbers and Pipefitters
Association and numerous construction industry trade groups spoke
out against any form of tax increase on the three Detroit casinos.
June 15, 2004
The Michigan Gaming
Control Board released May 2004 Total Adjusted Revenue for the three
Detroit casinos. MGM Grand Detroit Casino's May 2004 total adjusted
revenue was $41,179,721.54 compared to $42,565,080.31 in April;
MotorCity Casino's May 2004 total adjusted revenue was
$39,202,887.35 compared to $38,155,066.74 in April; and Greektown
Casino's May 2004 total adjusted revenue was $28,280,670.06 compared
to $31,338,542.42 in April.
June 14, 2004
Michigan Senate
rejected House Bill 4612 with an 18-19 vote. Construction-related
organizations speaking out against increasing the Detroit casinos'
wagering tax from 18% to 36% include: Associated General Contractors
of America (Greater Detroit Chapter); Construction Association of
Michigan; Greater Detroit Building & Construction Trades; Great
Lakes Construction Alliance; Great Lakes Fabricators & Erectors
Association; Iron Workers Local 25; Journeyman Plumbers Local 98;
Michigan State Building and Construction Trades Council; MUST
(Management and Unions Serving Together); Operating Engineers Local
324; PACE Mechanical Services, Inc.; Pipe Fitters Local 636;
Plumbing & Mechanical Contractors of Detroit; and Sheet Metal and
Air Conditioning National Association.
June 14, 2004
MGM Mirage announced
the agreement to purchase the Mandalay Resort Group for $7.9
billion. This is a 4.4 percent increase ($71.00 per share) from the
original offer of $68.00 per share. In addition to the purchase of
Mandalay stock, the deal includes $4.8 billion in cash, $600 million
in convertible debentures and MGM Mirage's assumption of $2.5
billion of Mandalay's debt. Because a casino licensee is prohibited
from holding more than a 10 percent ownership in more than one of
the three Detroit casinos, MGM Mirage has announced the possible
sale of 53.3 percent of its interest in MotorCity Casino in order to
retain ownership of MGM Grand Detroit.
June 11, 2004
MotorCity Casino
investor Vivian Carpenter, speaking of House Bill 4612, told The
Michigan Gaming Law Newsletter, "I encourage all casino employees,
casino suppliers, casino construction providers, and casino patrons
to contact their state of Michigan Representatives, state Senators
and Governor Jennifer Granholm and voice their opposition to the
passage of House Bill 4612, as the tax increase will adversely
affect everyone in Southeastern Michigan."
June 11, 2004
Mandalay Resort Group
rejected MGM Mirage's purchase offer of $7.65 billion, a $68.00
per-share offer.
June 11, 2004
Regarding House Bill
4612, Bob Berg, spokesperson for MGM Grand Detroit Casino, said,
"The proposed 36 percent tax rate would drastically change the
economics of operating a casino in Detroit." He noted that, when
Michigan residents voted for casinos in 1996, the goal was for the
casinos to be an economic development tool. Consequently, the state
imposed a reasonable rate of taxation in exchange for significant
capital investment and jobs. "The current proposal would change the
market from an economic development model, to one that's primary
function is to raise tax revenue for the state of Michigan," opined
Mr. Berg.
June 11, 2004
The Metro Detroit
Regional Chamber of Commerce, Michigan Chamber of Commerce and the
Detroit Casino Council (a union group representing casino employees)
have come out in opposition to House Bill 4612.
June 4, 2004
MGM Mirage, Inc.
announced its $7.65 billion offer to purchase Mandalay Resort Group.
Because MGM Mirage owns the MGM Grand Detroit Casino and Mandalay
Resort Group owns a majority stake in Detroit's Motor City Casino,
these developments are being closely monitored in Michigan. Michigan
gaming law provides:
"An applicant is
ineligible to receive a casino license if … the applicant or
affiliate owns more than a 10% ownership interest in any entity
holding a casino license issued under this act." (MCL 432.2067(4)(g)
Consequently, MGM
Mirage would be forced to reduce its ownership interest in MotorCity
Casino or the MGM Grand Detroit Casino to 10% or below to comply
with state laws. The two entities' Casino Development Agreements
with the City of Detroit also contain restrictions which could
affect MGM owning two casinos in this area. Even if the offer is
accepted, several federal and state regulatory approvals would still
be required.
June 2, 2004
In a press release,
President and CEO of Detroit Black Chamber of Commerce Kathie D.
Dones-Carson stated: "As business people, the Detroit Black Chamber
of Commerce understands the need to identify new revenue sources to
address current and future budgetary shortfalls. But the proposed 36
percent tax on casino gaming revenue fails to consider the likely
negative impact on the implementation of contractual commitments to
the City of Detroit, and the potentially adverse impact on the
employees of the 3 [Detroit] casinos, and the vendors, suppliers,
contractors that do business or will seek to do with the casinos.
Furthermore, this proposed tax is a disincentive to further economic
growth and stimulus of the business environment in Detroit."
May 13, 2004
Casino Windsor
announced it will re-open on Friday, May 14, 2004 at 10:00 a.m.
following the strike resolution by 93 percent of its 3,500 unionized
employees voting in favor of a new four-year contract. A tentative
agreement was reached Wednesday, May 12 after a 40-day strike.
May 12, 2004
The Michigan House of
Representatives passed legislation (House Bill 4612) to dramatically
increase the wagering tax paid by the three Detroit casinos from the
current rate of 18 percent on gross gaming revenue to 36 percent.
May 12, 2004
The Michigan Gaming
Control Board released April 2004 Total Adjusted Revenue for the
three Detroit casinos. MGM Grand Detroit Casino's April 2004 total
adjusted revenue was $42,565,080.31 compared to $38,056,927.36 in
March; MotorCity Casino's April 2004 total adjusted revenue was
$38,155,066.74 compared to $36,678,617.69 in March; and Greektown
Casino's April 2004 total adjusted revenue was $31,338,542.42
compared to $27,081,668.36 in March.
April 29, 2004
By a narrow margin,
Michigan Senators voted in favor of legalizing Video Lottery
Terminals (VLTs) at Michigan's horse racing tracks. The House of
Representatives could now elect to approve the Senate Substitute for
House Bill 4610, which would then send the bill to the Governor for
signature or veto, make additional changes, or assign the bill to a
House/Senate Conference Committee to resolve the differences.
April 29, 2004
Casino Windsor
announced that a tentative settlement was reached between Windsor
Casino and CAW Local 444 on May 28, 2004. A ratification vote is
scheduled for April 30 with the vote results expected by Friday
afternoon and the possible re-opening of the casino on Saturday, May
1 at 10:00 a.m.
April 28, 2004
Opponents to Video
Lottery Terminal (VLTs) at Michigan's horse tracks held a rally at
the Michigan State Capital saying the legalization of VLTs would "do
significant economic harm to Detroit and Northern Michigan." A new
"Let Voters Decide - YES!" coalition was announced at the rally. The
coalition is seeking a constitutional amendment to allow both
statewide and local voter- approval before expansion of any gaming
in the state.
April 28, 2004
A tentative deal was
reached with Casino Windsor's employee's Union. Following a
ratification vote by Local 444 of the Canadian Auto Workers Union's
3500 members, Casino Windsor could possibly open as early as
Saturday, May 1.
April 27, 2004
Senate Majority
Leader Ken Sikkema (R-Wyoming) announced his decision to discharge
the Racino Legislation, House Bill 4610, from the Senate Gaming and
Casino Oversight Committee. In response to this announcement, a
Senate substitute bill was introduced by Senate Minority Leader Bob
Emerson (D-Flint). The substitute includes a large number of changes
from the version passed by the House in May of 2003.
April 15, 2004
Casino Windsor
employees' strike continues with no apparent end in site. The Casino
Windsor website states: "Casino Windsor unionized workers have
chosen to strike. As a result, Casino Windsor will close for
business until an agreement can be reached and ratified. We value
your loyalty and apologize for any inconvenience this may cause."
April 15, 2004
The Michigan Gaming
Control Board released March 2004 Total Adjusted Revenue for the
three Detroit casinos. MGM Grand Detroit Casino's March 2004 total
adjusted revenue was $38,056,927.36 compared to $36,213,516.94 in
February; MotorCity Casino's March 2004 total adjusted revenue was
$36,678,617.69 compared to $37,224,255.46 in February; and Greektown
Casino's March 2004 total adjusted revenue was $27,081,668.36
compared to $28,011,187.51 in February.
April 9, 2004
The U.S. District
Court for the Western District of Michigan approved the settlement
reached between the Lac Vieux Desert Band of Lake Superior Chippewa
Indians and two of the three Detroit casinos (Greektown and
MotorCity). The Sixth Circuit Court of Appeals had remanded the
matter back to the District Court to consider whether the settlement
was appropriate and where approval of the settlement would prejudice
the non-settling party (MGM Grand Detroit).
April 3, 2004
First day of strike
begins at Casino Windsor. Rob Rundle, strike marshal for the 3,500
casino workers (who walked off the job Friday night) predicts the
strike may last as long as five weeks.
April 1, 2004
After a provincially
appointed mediator went home, Canadian Auto Workers leaders said
Casino Windsor employees will likely strike one minute after
midnight tonight. The two sides have not met since Sunday. Visitors
to the casino's website are greeted with a pop-up notice saying in
part, "Casino Windsor's unionized staff may choose to strike on
April 3 if a contract agreement cannot be reached. Anyone planning
to visit us in the near future is encouraged to check this website
to ensure that we're open for business."
March 23, 2004
Ten months after the
Michigan House of Representatives passed three of the four House
Bills contained in the Racino Legislation Package, Senator Jason
Allen, Committee Chair of the Michigan Senate Gaming and Casino
Oversight Committee stated that he plans to continue an "open
dialogue on this issue with constituent groups and legislative
leaders." Sponsors of the Bills say the legislation would help the
horse racing industry and Michigan's agriculture community.
Opponents feel the legislation would hurt the existing casino
industry which has been providing support to many Michigan areas
with gaming revenues.
March 16, 2004
Of Casino Windsor's
3,400 unionized employees, 1,800 voted to strike if the conditions
of union leaders were not met by the April 1, 2004 deadline.
March 15, 2004
The Michigan Gaming
Control Board released February 2004 Total Adjusted Revenue for the
three Detroit casinos. MGM Grand Detroit Casino's February 2004
total adjusted revenue was $36,213,516.94 compared to $33,164,130.61
in January; MotorCity Casino's February 2004 total adjusted revenue
was $37,224,255.46 compared to $35,019,468.57 in January; and
Greektown Casino's February 2004 total adjusted revenue was
$28,011,187.51 compared to $25,234,740.60 in January.
March 9, 2004
The Michigan Gaming
Control Board recognized the contributions of two of its former
members, Roman Gribbs and Rich Davis, and Assistant Attorney General
Eric Eggan. Messrs. Gribbs' and Davis' terms of service expired at
the end of 2003 and Mr. Eggan is leaving the AG's office to take a
job with a law firm in the private sector.
February 24, 2004
In his 2004 State of
the City speech, Detroit Mayor Kwame Kilpatrick addressed the
permanent casino issue. He said the casino operators are anxious to
start building, the permanent casinos will bring real jobs and real
money to Detroit.
February 10, 2004
Executive Director of
the Michigan Gaming Control Board Dan Gustafson announced that gross
revenue for MGM Grand Detroit Casino, MotorCity Casino and Greektown
Casino were up by 6.7 percent, 8.26 percent and 3.17 percent,
respectively, in January 2004 compared to January of 2003. January
2004 aggregate revenue and taxes for all three Detroit casinos were
up by 6.29 percent compared to the same period last year.
January 2004
The Michigan Gaming
Control Board released the 2003 Total Adjusted Gross Revenue for
Detroit's three casinos. The 2003 Total Adjusted Gross Receipts for
the three Detroit casinos amounted to $1,130,201,887, a ½ percent
increase over 2002 and an 11 percent increase over 2001.
