The Michigan Gaming Control Board has released the latest reports in regards to casino gaming in the state, with earnings dropping just over 2% in the month of August. When compared to July, the three Detroit casinos saw a drop in earnings by 2.2%, with a total of $115.9 million earned.
The three casinos were able to see an increase in earnings based on year-on-year totals, with 7.9% more earned in 2016 than in the same month for 2015. Year-to-date totals showed the casinos were up just over 1% when compared to the first eight months of last year.
The big earner was the MGM Grand Detroit, which brought in $51.3 million in revenues for the month of August. This was a 17.9% increase when compared to August of last year. The MotorCity Casino Hotel came in second in revenues with a 2% increase from last year, earning $37.8 million. Pulling up the rear was the Greektown Casino-Hotel which earned $26.7 million, with a decrease of 0.3% when compared year-on-year.
The state of Michigan was paid $9.4 million in gaming taxes by the three casinos of Detroit which is quite a bit higher than the $8.7 million that was paid for the same time frame of 2015. The casino reported a submission of $13.8 million in wagering taxes as well as development agreement payments to the host city.
During the recent meeting of the Michigan Gaming Control Board this past Tuesday, the three casino hotels saw their licensing renewed for one year.