MGM Grand Detroit, Motorcity Casino, and Greektown Casino all posted year-over-year revenue increases in June. Collectively, the three properties generated $113,073,887.16. That number represents a four percent increase over the $108,612,340.75 compared to June 2016.
|June 2016||June 2017||YoY change|
|MGM Grand Detroit||$47,555,020.17||$48,614,446.33||+2.2 percent|
|Motorcity Casino||$35,895,882.01||$37,943,849.44||+5.4 percent|
|Greektown Casino||$25,161,438.57||$26,515,591.39||+5.1 percent|
Motorcity Casino and Greektown Casino may have more than doubled MGM Grand Detroit’s revenue increase, but MGM Grand is still the leader in the clubhouse when it comes to total revenue and overall market share. All three casino hold their own, but MGM Grand Detroit is tops in the market.
This isn’t overly surprising considering the MGM Grand Detroit has more gaming terminals. It also has the strength of the MGM brand behind it, plus the MGM Grand Detroit predates Motorcity Casino by a year and Greektown by two years. MGM opened in 1999, Motorcity in 2000, and Greektown in 2001.
Over the first half of 2017, the three Detroit casinos bested 2016’s revenue totals in five of the six months.
|Month||2016 Revenue||2017 Revenue||YoY Change|
With its solid start, the industry is on pace to have one of its best year’s. In fact, it could break $1.4 billion in total casino revenue for the first time since 2012. The all-time revenue record was set back in 2011, when Michigan’s three commercial casinos combined to generate $1,424,445,461.
Tax revenue continues to pour in
The tax rate imposed on Detroit’s three commercial casino by the state of Michigan is a modest 8.1 percent.
However, in addition to the state tax, Detroit casinos pay roughly 12 percent of GGR to the city of Detroit through a combination of wagering taxes and as part of its development agreement.
Collectively, MGM Grand, Motorcity, and Greektown paid $8.16 million in taxes to the state and $13.46 million to the city of Detroit in June.
Year-to-date tax payments made by Detroit casinos:
- Paid to the state of Michigan: $57,871,874.43
- Paid to the city of Detroit: $85,021,642.68
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