Detroit casino revenues and wagering taxes reported for August 2016; casinos' licenses renewed for one yearContact: Mary Kay Bean 313-456-1344
Detroit – The three Detroit casinos’ aggregate revenue rose 7.9 percent in August compared with August 2015 results, and monthly returns were down 2.2 percent in August compared with July 2016 revenue.
Revenue results were presented today to the Michigan Gaming Control Board, which also accepted the staff’s recommendation to renew the state casino licenses for MGM Grand Detroit, MotorCity Casino and Greektown Casino for one year.
The casinos’ year-to-date aggregate revenue was 1.4 percent higher than during the first eight months of 2015.
Compared with August 2015 results, revenue improved for MGM by 17.9 percent to $51.3 million and MotorCity by 2 percent to $37.8 million. Greektown revenue fell by a fractional 0.3 percent to $26.7 million.
The August market shares were:
MGM, 44 percent
MotorCity, 33 percent
Greektown, 23 percent
During August, the three Detroit casinos paid the state of Michigan $9.4 million in gaming taxes compared with $8.7 million for the same month last year.
The casinos reported submitting $13.8 million in wagering taxes and development agreement payments to the City of Detroit during August 2016.
"The Michigan Gaming Control Board shall ensure the conduct of fair and honest gaming to protect the interests of the citizens of the State of Michigan."