HomePublicationsNewsletter ArchiveNewslettersVolume 21Issue 12Michigan Gaming Control Board Releases Detroit Casino Revenues for March, 2015

The Michigan Gaming Control Board (“MGCB” or “Board”) released the March, 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 down 0.8% compared to the same reporting period last year. For the first quarter of 2015, the casinos’ aggregate revenue was up 5.4% compared with the same period last year. Specifically, revenue for MotorCity Casino was up by 1.1%, while MGM Grand Detroit Casino and Greektown Casino revenue was down by 1.8% during March, 2015 when compared to the same month last year.

 

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

March

$49,824,133.92

$43,432,911.12

$30,646,861.38

Total

$143,574,401.69

$120,517,847.18

$85,255,846.58

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.

 

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

March

$123,903,906.42

$10,036,216.42

$13,505,525.80

Total

$349,348,095.45

$28,297,195.73

$38,078,942.40

The market shares for MGM Grand Detroit, MotorCity Casino, and Greektown Casino for March 2015 were 40%, 35%, 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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