The Michigan Gaming Control Board has voted to renew the licenses of all three commercial casinos in the state.
MGM Grand, MotorCity Casino and Hollywood Casino Greektown – all located in Detroit – will be permitted to operate for another year with the new licenses, after all receiving unanimous approval from commissioners.
“A casino license is a privilege granted by the state of Michigan,” said Henry Williams, MGCB executive director. “Board members and agency staff take seriously our responsibilities when reviewing this privilege each year as required by law.”
All three licensees will continue to be taxed at 18% of adjusted gross receipts. The state receives 8.1% of revenue, and the city of Detroit receives 9.9%.
In addition, the regulator announced the three casinos’ revenue totals for the month of July, combining for $107.2m in total revenue. This was down by 8.3% from July 2021.
Revenue declined year-on-year at each casino.
At the MGM grand, revenue declined by 4.7% to $51.2m, while revenue at MotorCity was down by 9.6% to $34.8m and Greektown revenue dropped by 15.0% to $19.9m.
While its revenue fell in absolute terms, MGM’s market share increased to 48%.
The casinos paid $8.6m in taxes to the state, plus $12.6m to Detroit.
Of the $107.2m in revenue, $15.9m came from casino gaming, with the other $1.3m from retail sports betting. This sports betting figure was up 3.8% year-on-year and came on bets worth $18.9m.
MGM also brought in the most betting revenue, at $807,710. MotorCity brought in $238,320 and Greektown $212,205.