Revenues, wagering taxes up in 2015 for Detroit casinos
Revenue for Detroit’s three casinos was up in 2015, compared with the previous year, gaming officials announced Tuesday.
Aggregate revenue, which does not account for taxes or inflation, was an average of 3.3 percent higher, according to the Michigan Gaming Control Board.
MGM Grand’s revenue was the highest at $582 million, up 3.7 percent compared with 2014. MotorCity had the highest percentage increase with $464.5 million, up 4.4 percent. Greektown revenue was up 1 percent with an revenue of $329.9 million.
The casinos ended the year on a strong note, with December revenue 15.4 percent higher than November.
Compared with December 2014, MGM led the three casinos with monthly revenue at $55.8 million, up 11.4 percent. MotorCity’s December revenue was $41.1 million, up 3.6 percent from the previous year. Greektown’s revenue increased by 0.6 percent at $28.6 million.
State gaming taxes for the casinos were also up for the year.
For the year 2015, the three casinos paid $111.5 million in taxes to the state of Michigan compared to $108 million in 2014.
The casinos also reported submitting to the City of Detroit $174.3 million in wagering taxes and development agreement payments in 2015.