In a unanimous decision reached during a public meeting, the Michigan Gaming Control Board (MGCB) agreed to renew the licenses of three Detroit casinos.
The casinos – MGM Grand Detroit, MotorCity Casino, and Penn National’s Hollywood Casino at Greektown – were granted a one-year license renewal in a decision that required three votes in support of final board decisions on casino license applications.
“A casino license is a privilege granted by the state of Michigan,” said MGCB Executive Director Henry Williams. When reviewing this privilege each year as required by law, board members and agency staff take our responsibilities seriously.”
The Michigan Gaming Control and Revenue Act established the casino license application process, with the MGCB required to consider a number of factors when reviewing applications.
Moral character and reputation, business integrity, financial capability, and adequate compulsive gambling programs are among these factors.
Wage tax and development agreement payments are taxed at 18% on adjusted gross receipts, with the state receiving 8.1% and the city of Detroit receiving 9.9%.
Licensees must also pay an 8.4% tax on qualified adjusted gross receipts from retail sports betting, as well as an annual fee to cover the state’s regulatory expenses.
Michigan gaming law requires casinos to promote responsible gambling by displaying the state’s gambling helpline at entrances and exits, on fund transfer terminals, credit locations, and on all advertisements and promotional materials.
The MGCB recently released financial results for the three Detroit casinos for the month of July, reporting $107.2 million in monthly aggregate revenue.