HomePublicationsNewsletter ArchiveNewslettersVolume 22Issue 34Michigan Gaming Control Board Releases Detroit Casino Revenues for October 2016

On November 10, 2016, the Michigan Gaming Control Board (“MGCB” or “Board”) released the October 2016 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 fell 1.9% compared to the same reporting period last year.

 

 

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

July

$50,185,322.0

$40,569,698.06

$27,707,524.25

August

$51,333,425.60

$37,835,364.01

$26,734,163.06

September

$48,479,767.93

$37,034,304.51

$26,653,491.54

October

$47,347,683.27

$37,182,514.06

$26,207,798.17

Total

$492,997,160.85

$391,093,519.93

$273,101,182.34

 

 

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

$12,978,937.08

February

$116,400,992.94

$9,428,480.43

$13,851,718.16

March

$124,949,116.98

$10,120,878.48

$14,868,944.92

April

$122,356,901.35

$9,910,909.01

$14,560,471.26

May

$118,534,756.46

$9,601,315.27

$14,105,636.02

June

$108,612,340.75

$8,797,599.60

$12,924,868.55

July

$118,462,544.37

$9,595,466.09

$14,097,042.78

August

$115,902,952.67

$9,388,139.17

$13,792,451.37

September

$112,167,563.98

$9,085,572.68

$17,804,434.90

October

$110,737,995.50

$8,969,777.64

$13,651,298.30

Total

$1,157,191,863.11

$93,732,540.91

$142,635,803.33

*Total includes wagering tax and development agreement payments to the city of Detroit as reported by the casinos

 

Specifically, revenue for MGM Grand Detroit fell 0.3%, MotorCity was down 1.6%, and Greektown declined 5% during October 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 October 2016 were 43%, 33%, 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; nor 4) other normal business expenses. 

 

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