HomePublicationsNewsletter ArchiveNewslettersVolume 20Issue 23Michigan Gaming Control Board Releases Detroit Casino Revenues for July, 2014

The Michigan Gaming Control Board (“MGCB” or “Board”) released the June, 2014 total adjusted revenue figures for the three Detroit casinos—MGM Grand Detroit Casino, MotorCity Casino and Greektown Casino. Overall, the revenue for the Detroit market was down 0.9% compared to the same reporting period last year. Specifically, revenue for MGM Grand Detroit Casino was down by 10%, while revenue for MotorCity Casino and Greektown Casino was up 5.3% and 9% respectively, during  June 2014 compared to the same month last year.

 

Month in 2014

Total Adjusted Revenue 2014

MGM Grand Detroit

MotorCity Casino

Greektown Casino

 

Total Adjusted Revenue

Total Adjusted Revenue

Total Adjusted Revenue

January

$41,231,507.57

$31,710,276.19

$23,106,523.77

February

$47,575,032.11

$37,245,026.02

$25,788,555.32

March

$50,756,665.25

$42,961,184.96

$31,218,833.96

April

$46,974,038.53

$38,240,494.81

$27,058,910.49

May

$47,385,946.12

$39,070,816.47

$28,051,733.40

June

$49,682,916.37

$34,026,664.62

$25,298,039.91

July

$46,343,669.19

$36,460,812.42

$28,531,147.02

Total

$329,949,775.14

$259,715,275.49

$189,053,743.87

 

 

Month in 2014

Total Adjusted Revenue and Taxes 2014

All Detroit Casinos

 

Total Adjusted Gross Receipts

Total State Wagering Tax

Total Detroit Wagering Tax

January

$96,048,307.53

$7,779,912.91

$10,469,265.52

February

$110,608,613.45

$8,959,297.69

$12,056,338.87

March

$124,936,684.17

$10,119,871.42

$13,618,098.57

April

$112,273,443.83

$9,094,148.95

$12,237,805.38

May

$114,508,495.99

$9,275,188.18

$12,481,426.06

June

$109,007,620.90

$8,829,617.29

$11,881,830.68

July

$111,335,628.63

$9,018,185.92

$12,135,583.52

Total

$778,718,794.50

$63,076,222.35

$84,880,348.60

All three casinos are subject to a wagering tax of 19%, with 10.9% of this levy to go to the City of Detroit and 8.1% to be paid to the State of Michigan.

The market shares for MGM Grand Detroit, MotorCity Casino, and Greektown Casino for June 2014 were 42%, 33%, and 25%, respectively.

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; and 4) other normal business expenses.

 

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