HomePublicationsNewsletter ArchiveVolume 24Issue 6MICHIGAN GAMING CONTROL BOARD RELEASES DETROIT CASINO REVENUES & WAGERING TAXES FOR JANUARY 2018

In a press release dated February 13, 2018, the Michigan Gaming Control Board (“MGCB” or “Board”) released the January 2018 revenue figures for the three Detroit casinos – MGM Grand Detroit Casino, MotorCity Casino and Greektown Casino.

The three Detroit casinos reported $111.4 million in aggregate revenue for January 2018, a 0.5 percent decrease from the same month last year. The results were 4 percent below December 2017 revenue.

Please see the linked  State of Michigan official financial report.

Revenue rose at MGM by 1.3 percent to $47.7 million. MotorCity recorded a revenue decrease of 1.1 percent to $38 million. Greektown revenue also decreased by 2.7 percent to $25.7 million compared with December 2017 results.

The January 2018 market shares for MGM Grand Detroit, MotorCity Casino and Greektown Casino were 43%, 34% and 23% respectively.

During January 2018, the three Detroit casinos paid $9 million in gaming taxes to the State of Michigan, compared with $9.1 million for the same month last year. The three casinos reported submitting $13.3 million in wagering taxes and development agreement payments to the City of Detroit in January.

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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