HomePublicationsNewsletter ArchiveNewslettersVolume 18Issue 22Michigan Gaming Control Board Releases Detroit Casino Revenues For June, 2012

The Michigan Gaming Control Board (“MGCB” or “Board”) released the June, 2012 total adjusted revenue figures for the three Detroit casinos – MGM Grand Detroit Casino, MotorCity Casino and Greektown Casino.  Overall, revenue for the Detroit Market was down 1.6% in June, 2012 from the same reporting period last year. Specifically, revenue for MGM Grand Detroit Casino and Greektown Casino was down by .004%, and 5.8%, respectively while revenue for MotorCity Casino had increased by .002% during June, 2012 in comparison to the same month last year.

 

 

Month in 2012

Total Adjusted Revenue 2012

MGM Grand Detroit

MotorCity Casino

Greektown Casino

 

Total Adjusted Revenue

Total Adjusted Revenue

Total Adjusted Revenue

January

$47,869,082.24

$36,708,630.10

$29,607,452.04

February

$53,443,696.53

$42,922,456.88

$32,560,470.47

March

$57,181,553.70

$43,543,183.32

$34,602,503.13

April

$52,125,745.86

$39,350,932.55

$31,868,439.41

May

$51,719,743.97

$36,964,111.37

$29,720,467.91

June

$47,326,715.28

$36,905,378.50

$27,259,606.31

Total

$309,666,537.59

$236,394,692.72

$185,618,939.27

 

Revenues for the month of June, although slightly lower than the same reporting period last year, fared well.  Although the Hollywood Casino in Toledo, Ohio recently opened, the slight decline in revenues was likely due to other factors.  Historically, the MGCB has reported decreases in revenue for the summer months, and any significant impact from the Ohio casino is not expected to impact revenues substantially, if at all, for three to six months.

 

 

Month in 2012

Total Adjusted Revenue 2012

All Detroit Casinos

 

Total Adjusted Gross Receipts

Total State Wagering Tax

Total Detroit Wagering Tax

January

$114,185,164.38

$9,248,998.32

$12,446,182.92

February

$128,926,623.88

$10,443,056.60

$14,053,002.00

March

$135,327,240.15

$10,961,506.45

$14,750,669.18

April

$123,345,117.82

$9,990,954.54

$13,444,617.84

May

$118,404,323.25

$9,590,750.18

$12,906,071.23

June

$111,491,700.09

$9,030,827.71

$12,152,595.31

Total

$731,680,169.57

$59,266,093.74

$79,753,138.48

 

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 figures released by the Michigan Gaming Control 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, service providers or vendors; and 4) other normal business expenses.

 

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