The Michigan Gaming Control Board ("MGCB") released the revenue and wagering tax data for July 2011 for the three Detroit, Michigan, commercial casinos. The three Detroit commercial casinos posted a collective 1.1% increase in gaming revenues compared to the same month in 2010. Aggregate gross gaming revenue for the Detroit commercial casinos also increased by approximately 6% compared to June 2011 revenue figures, continuing the trend of a similar rise in revenues between June and July in prior years.
MGM Grand Detroit posted positive gaming revenue results for July 2011 as compared to the same month in 2010, with gaming revenue increasing by slightly less than 1.2%. MGM Grand Detroit continued to maintain the largest market share among the three Detroit commercial casinos and had total gaming revenue in July 2011 of nearly $51 million. MotorCity Casino had monthly gaming revenue exceeding $40 million and posted a 6.2% improvement in July 2011 over its July 2010 revenues. Greektown Casino posted a negative gaming revenue result in July 2011 compared to July 2010, with a 5.2% decrease in total revenues. Greektown had gaming revenue of approximately $29 million for July 2011.
The revenue data released by the MGCB also includes the total wagering tax payments made by the casinos to the State of Michigan. The gaming revenue and wagering tax payments for MGM Grand Detroit, MotorCity Casino, and Greektown Casino for July 2011 were:
|
Casino |
Gaming Revenue |
State Wagering Tax Payments |
|
MGM Grand Detroit |
$50,966,222.78 |
$4,128,264.05 |
|
MotorCity Casino |
$40,090,240.13 |
$3,247,309.45 |
|
Greektown Casino |
$29,050,954.03 |
$2,353,127.28 |
|
Totals |
$120,107,416.94 |
$9,728,700.78 |
* Ryan Shannon is an associate in Dickinson Wright's Lansing office. He can be reached at 517.487.4719 or rshannon@dickinsonwright.com.
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