The Michigan Gaming Control Board (MGCB) voted unanimously to grant renewed permits to Detroit’s three commercial gambling establishments.
The permits for Detroit’s MGM Grand Detroit, MotorCity Casino, and Greektown Casino-Hotel will be extended until the following August.
The city imposes an 18% adjusted gross receipts tax on the approved casinos. Gambling venues pay gaming taxes daily via electronic funds transfer.
Michigan receives 8.1% of the gaming tax, the City of Detroit receives 9.9% of the gaming tax, and development agreement payments.
Casinos are also taxed 8.4% on their retail sports betting qualified adjusted gross receipts (QAGR). Furthermore, each licensee pays an annual fee to cover the MGCB’s operational expenses.
“Upholding High Standards”
“Renewing the casino licenses reflects a continued commitment to operating a reputable and responsible establishment,” stated MGCB Executive Director Henry Williams. “This demonstrates a dedication to maintaining high standards of quality, safety, and fair competition within the industry.
“The renewal of these licenses is a recognition of the casinos’ commitment to operating as responsible and valuable corporate members in Michigan, who actively contribute to the state’s gaming industry while ensuring all patrons enjoy a secure and enjoyable experience.”
The three gambling houses in Detroit brought in a total of $107.2 million in earnings during July, as per a recent report. Although this figure remains stable compared to the previous year, it signifies a slight upward trend from the preceding month.
Slot machines and table games contributed approximately $106.7 million to the revenue, indicating a 0.7% rise from the same period last year. Sports betting earnings amounted to $485,763, showing a 62.0% decline year-on-year. However, the betting volume reached a significant $8 million.
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