The Michigan Gaming Control Board (“MGCB” or “Board”) released the June and July, 2013 total adjusted revenue figures for the three Detroit casinos – MGM Grand Detroit Casino, MotorCity Casino and Greektown Casino.
|
Month in 2013 |
Total Adjusted Revenue 2013 |
||
|
MGM Grand Detroit |
MotorCity Casino |
Greektown Casino |
|
|
|
Total Adjusted Revenue |
Total Adjusted Revenue |
Total Adjusted Revenue |
|
January |
$45,053,237.92 |
$35,104,651.68 |
$26,014,038.75 |
|
February |
$46,465,030.58 |
$38,280,263.88 |
$26,554,877.16 |
|
March |
$54,317,934.38 |
$45,753,508.81 |
$34,689,130.33 |
|
April |
$48,995,129.99 |
$39,735,195.61 |
$31,309,701.67 |
|
May |
$48,326,080.76 |
$39,604,092.95 |
$28,589,982.46 |
|
June |
$41,794,972.38 |
$35,431,762.38 |
$26,630,622.16 |
|
July |
$51,507,665.66 |
$34,639,218.50 |
$26,177,226.98 |
|
Total |
$336,460,051.67 |
$268,548,693.81 |
$199,965,579.51 |
Casino Operations—Month of June, 2013
Overall, for the month of June, revenue for the Detroit Market was down 6.9% from the same reporting period last year. Specifically, revenue for MGM Grand Detroit Casino, MotorCity Casino and Greektown Casino was down by 11.7%, 4.0%, and 2.3%, respectively, in June, 2013 in comparison to the same month last year.
The market shares for MGM Grand Detroit, MotorCity Casino, and Greektown Casino for June, 2013 were 40%, 34%, and 26% respectfully.
|
Month in 2013 |
Total Adjusted Revenue and Taxes 2013 |
||
|
All Detroit Casinos |
|||
|
|
Total Adjusted Gross Receipts |
Total State Wagering Tax |
Total Detroit Wagering Tax |
|
January |
$106,171,928.35 |
$8,599,926.20 |
$11,572,740.19 |
|
February |
$111,300,171.62 |
$9,015,313.90 |
$12,131,718.71 |
|
March |
$134,760,573.52 |
$10,915,606.46 |
$14,688,902.51 |
|
April |
$120,040,027.27 |
$9,723,242.21 |
$13,084,362.97 |
|
May |
$116,520,156.17 |
$9,438,132.65 |
$12,700,697.02 |
|
June |
$103,857,356.92 |
$8,412,445.91 |
$11,320,451.90 |
|
July |
$112,324,111.14 |
$9,098,253.00 |
$12,243,328.11 |
|
Total |
$804,974,324.99 |
$65,202,920.32 |
$87,742,201.42 |
Casino Operations—Month of July, 2013
Overall, for the month of July, revenue for the Detroit Market was up 0.3% from the same reporting period last year. Specifically, revenue for MGM Grand Detroit Casino was up 5.5%, while revenue for MotorCity Casino and Greektown Casino was down by 1.0%, and 7.2%, respectively, in July, 2013 in comparison to the same month last year.
The market shares for MGM Grand Detroit, MotorCity Casino, and Greektown Casino for July 2013 were 46%, 31%, and 23% respectfully.
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.
Detroit Casinos License Renewed
During the MGCB’s August 2013 Regular Public Meeting, the annual license renewals for all three Detroit casinos, MGM Grand Detroit, MotorCity Casino, and Greektown Casino-Hotel were approved by the Gaming Control Board.
