On May 10, 2017, the Michigan Gaming Control Board (“MGCB” or “Board”) released the April 2017 total adjusted revenue figures for the three Detroit casinos – MGM Grand Detroit Casino, MotorCity Casino and Greektown Casino. Overall, the revenue for the Detroit market was down 1.1% when compared to the same reporting period last year.
Revenue declined at all three casinos compared with April 2016 revenue: MGM Grand Detroit by 1.7 percent to $49.6 million; MotorCity Casino by 0.5 percent to $42.1 million; and Greektown Casino by 0.9 percent to $29.3 million.
|
Month in 2017 |
Total Adjusted Revenue 2017 |
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|
MGM Grand |
MotorCity |
Greektown |
|
|
|
Total Adjusted Revenue |
Total Adjusted Revenue |
Total Adjusted Revenue |
|
January |
$47,122,785.88 |
$38,437,983.01 |
$26,444,022.40 |
|
February |
$48,090,071.92 |
$40,560,815.83 |
$28,590,936.09 |
|
March |
$54,150,615.38 |
$45,102,231.26 |
$31,950,728.99 |
|
April |
$49,596,029.88 |
$42,121,055.77 |
$29,280,455.10 |
|
Total |
$198,959,503.06 |
$166,222,085.87 |
$116,266,142.58 |
|
Month in 2017 |
Total Adjusted Revenue and Taxes 2017 |
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|
All Detroit Casinos |
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|
|
Total Adjusted Gross Receipts |
Total State Wagering Tax |
Total Detroit Wagering Tax* |
|
January |
$112,004,791.29 |
$9,072,388.09 |
$13,328,570.16 |
|
February |
$117,241,823.84 |
$9,496,587.73 |
$13,951,777.04 |
|
March |
$131,203,575.63 |
$10,627,489.63 |
$15,613,225.50 |
|
April |
$120,997,540.75 |
$9,800,800.80 |
$14,398,707.35 |
|
Total |
$481,447,731.51 |
$38,997,266.25 |
$57,292,280.05 |
|
*Total includes wagering tax and development agreement payments to the city of Detroit as reported by the casinos |
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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 April 2017 market shares for MGM Grand Detroit, MotorCity Casino, and Greektown Casino were 41%, 35%, and 24%, respectively.
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.
