HomePublicationsNewsletter ArchiveNewslettersVolume 21Issue 22Michigan Gaming Control Board Releases Detroit Casino Revenues for June 2015

The Michigan Gaming Control Board (“MGCB” or “Board”) released the June, 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 0.9% compared to the same reporting period last year. For the first five months of 2015, the casinos’ aggregate revenue was up 4.8% compared with the same period 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

April

$51,849,138.07

$40,532,401.92

$28,167,335.92

May

$51,747,439.96

$39,825,609.22

$28,242,004.16

June

$47,328,471.77

$37,006,364.49

$25,595,355.54

Total

$294,499,451.49

$237,882,222.81

$167,260,542.20

Specifically, revenue for MotorCity Casino and Greektown Casino was up by 8.8% and 1.2%, during June, 2015 when compared to the same month last year. Monthly revenue for MGM Grand Detroit was down 4.7% compared to June 2014.

 

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

April

$120,548,875.91

$9,764,458.95

$13,139,827.47

May

$119,815,053.34

$9,705,019.32

$13,059,840.81

June

$109,930,191.80

$8,904,345.54

$11,982,390.91

Total

$699,642,216.50

$56,671,019.54

$76,261,001.60

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 2015 were 43%, 34%, and 23%, 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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