HomePublicationsNewsletter ArchiveVolume 19Issue 31Michigan Gaming Control Board Releases Detroit Casino Revenue for October, 2013

The Michigan Gaming Control Board (“MGCB” or “Board”) has released the October, 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

August

$47,374,526.35

$38,690,225.53

$26,833,700.14

September

$45,258,504.74

$35,689,062.25

$25,392,633.55

October

$46,324,032.96

$35,088,106.84

$24,912,775.32

Total

$475,417,115.72

$378,016,088.43

$277,104,688.52

 

 

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

August

$112,898,452.02

$9,144,774.61

$12,305,931.27

September

$106,340,200.54

$8,613,556.24

$11,591,081.86

October

$106,324,915.12

$8,612,318.12

$11,589,415.75

Total

$1,130,537,892.67

$91,573,569.31

$123,228,630.30

Overall, for the month of October, revenue for the Detroit Market was down 4.2% from the same reporting period last year. Specifically, revenue for MGM Grand Detroit Casino, MotorCity Casino, and Greektown Casino were down 2.2%, 2.6%, and 9.6%, respectively, in October, 2013 in comparison to the same month last year.

Notably, recent reports have indicated a softening of casino revenues within the Midwest casino market including declines in overall gaming revenue from Ohio and Indiana when compared to the same reporting period last year.

The market shares for MGM Grand Detroit, MotorCity Casino, and Greektown Casino for October, 2013 were 44%, 33%, and 23%, respectively.

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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