HomePublicationsNewsletter ArchiveNewslettersVolume 23Issue 40MICHIGAN GAMING CONTROL BOARD RELEASES DETROIT CASINO REVENUES & WAGERING TAXES FOR NOVEMBER 2017

In a press release dated December 12, 2017, the Michigan Gaming Control Board (“MGCB” or “Board”) released the November 2017 revenue figures for the three Detroit casinos – MGM Grand Detroit Casino, MotorCity Casino and Greektown Casino.

The three Detroit casinos reported $113.1 million in aggregate revenue for November 2017, a 1.4 percent increase from the same month last year.

Please see the linked  State of Michigan official financial report.

Year-to-date aggregate revenue rose 1.2 percent above the Detroit casinos’ revenue for the first 11 months of 2016. November revenue increased a fractional 0.4 percent compared with October 2017 results.

Revenue rose at MGM by 0.8 percent to $48.6 million and at MotorCity by 2.7 percent to $38.2 million when compared with November 2016 results.  Greektown revenue increased 0.7 percent to $26.3 million compared with November 2016 results.

The November 2017 market shares for MGM Grand Detroit, MotorCity Casino and Greektown Casino were 43%, 34% and 23% respectively.

During November 2017, the three Detroit casinos paid $9.2 million in gaming taxes to the state of Michigan compared with $9 million for the same month last year. The three casinos reported submitting $18.3 million in wagering taxes and development agreement payments to the City of Detroit during October.

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 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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