HomePublicationsNewsletter ArchiveNewslettersVolume 22Issue 22MICHIGAN GAMING CONTROL BOARD RELEASES DETROIT CASINO REVENUES FOR JUNE 2016

The Michigan Gaming Control Board (“MGCB” or “Board”) released the  June 2016 total adjusted revenue figures for the three Detroit casinos—MGM Grand Detroit Casino, MotorCity Casino and Greektown Casino. During the month of June, the aggregate revenue for the Detroit market fell 1.2% compared to June of last year. Year-to-date aggregate revenue is up 0.04% from the same period in 2015.

 

Month in 2016

Total Adjusted Revenue 2016

MGM Grand Detroit

MotorCity Casino

Greektown Casino

 

Total Adjusted

Revenue

Total Adjusted

Revenue

Total Adjusted

Revenue

January

$46,718,389.11

$37,132,788.69

$25,215,520.31

February

$47,193,903.95

$40,385,060.23

$28,822,028.76

March

$51,818,121.13

$43,700,908.78

$29,430,087.08

April

$50,462,057.70

$42,346,725.48

$29,548,118.17

May

$51,903,469.93

$39,010,274.10

27,621,012.43

June

$47,555,020.17

$35,895,882.01

$25,161,438.57

Total

$295,650,961.99

$238,471,639.29

$165,798,205.32

 

 

Month in 2016

Total Adjusted Revenue and Taxes 2016

All Detroit Casinos

 

Total Adjusted Gross Receipts

Total State Wagering Tax

Total Detroit Wagering Tax

January

$109,066,698.11

$8,834,402.55

$11,888,270.09

February

$116,400,992.94

$9,428,480.43

$12,687,708.23

March

$124,949,116.98

$10,120,878.48

$13,619,453.75

April

$122,356,901.35

$9,910,909.01

$13,336,902.25

May

$118,534,756.46

$9,601,315.27

$12,920,288.45

June

$108,612,340.75

$8,797,599.60

$11,838,745.14

Total

$699,920,806.59

$56,693,585.33

$76,291,367.92

Specifically, revenue for MGM Grand Detroit was up 0.5% while MotorCity and Greektown were down 3.0% and 1.7% during June 2016 when compared to the same month last year.

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

The market shares for MGM Grand Detroit, MotorCity Casino, and Greektown Casino for June 2016 were 44 %, 33%, 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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