HomePublicationsNewsletter ArchiveNewslettersVolume 21Issue 8Michigan Gaming Control Board Releases Detroit Casino Revenues for February, 2015

The Michigan Gaming Control Board (“MGCB” or “Board”) released the February, 2015 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 up 3.5% compared to the same reporting period last year. Specifically, revenue for MotorCity Casino, and Greektown Casino was up by 4.8% and 8.1%, respectively, while MGM Grand Detroit Casino revenue was down by 0.1% during February, 2015 when compared to the same month last year. It should be noted that although the market saw an increase over 2014 for the reporting period, the market remains behind 2012 figures as it is trailing the start of 2012 by double digits.

 

Month in 2015

Total Adjusted Revenue 2015

MGM Grand Detroit

MotorCity Casino

Greektown Casino

 

Total Adjusted Revenue

Total Adjusted Revenue

Total Adjusted Revenue

January

$46,227,016.63

$38,061,452.27

$26,733,375.86

February

$47,523,251.14

$39,023,483.79

$27,875,609.34

Total

$93,750,267.77

$77,084,936.06

$54,608,985.20

 

 

Month in 2015

Total Adjusted Revenue and Taxes 2015

All Detroit Casinos

 

Total Adjusted Gross Receipts

Total State Wagering Tax

Total Detroit Wagering Tax

January

$111,021,844.76

$8,992,769.43

$12,101,381.08

February

$114,422,344.27

$9,268,209.89

$12,472,035.53

Total

$225,444,189.03

$18,260,979.31

$24,573,416.60

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 February 2015 were 42%, 34%, and 24%, 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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