Detroit Casinos’ Monthly Revenue Rises in May
Casino wagering in Detroit means nearly $15 million in taxes to the city in May.
Detroit’s three casinos’ combined May revenue of $124.6 million was up 4 percent from the same month a year ago, according to the Michigan Gaming Control Board.
Casino taxes are the city’s third largest source of revenue behind income taxes and state revenue sharing.
Here’s more on what casino revenue — and potentially sports gambling — means to the city of Detroit’s finances:
Casino taxes are a sure thing these days. Will sports betting bring more to the city coffers in the future?
The three casinos reported paying $14.8 million in wagering taxes and development agreement payments to the city of Detroit and $10 million in gaming taxes to the state of Michigan in May.
May 2018 revenues at the three casinos rose .5 percent from April, but the first five months of the year are outpacing 2017 by 1.2 percent.
The Michigan Gaming Control Board says MGM’s market share in May was 44 percent followed by MotorCity with 33 percent and Greektown with 23 percent.