Michigan Gaming Control Board renews licenses for Detroit casinos
During their regular public meeting this morning, the Michigan Gaming Control Board (MGCB) took a unanimous decision to extend the licenses of the three authorized Detroit casinos — MGM Grand Detroit, MotorCity Casino, and Hollywood Casino at Greektown — for another year.
The Board, operating under legal stipulations, requires a minimum of three affirmative votes to finalize decisions concerning casino licenses. Today's unanimous decision underscores the consistent commitment of these casinos to maintaining a trustworthy and responsible establishment within the state.
MGM Grand Detroit
MGCB Executive Director Henry Williams emphasized the significance of license renewal: “Renewing a casino license reflects an ongoing commitment to operate a reputable and responsible establishment. It signifies a dedication to maintaining high standards of quality, security, and fair play within the industry.”
“The renewal of these licenses is validation of the casinos' commitment to operating as responsible and valued corporate citizens within Michigan that contribute positively to the state's gambling industry while ensuring a safe and enjoyable experience for all patrons.”
The process of renewing a casino license under the Michigan Gaming Control and Revenue Act entails a comprehensive evaluation by the MGCB. This evaluation encompasses various aspects of the casino's operations, including financial stability, operational integrity, adherence to legal and regulatory frameworks, and commitment to responsible gaming practices.
Under the existing tax framework, licensees are subject to an 18% tax on their adjusted gross receipts, with daily remittance of wagering tax through electronic funds transfer.
Out of this, the state receives 8.1%, while the City of Detroit receives 9.9% in addition to development agreement payments. Furthermore, the casinos also contribute an 8.4% tax on qualified adjusted gross receipts from retail sports betting. Additionally, an annual fee is paid to cover the state's regulatory expenses.
Promoting responsible gaming is a fundamental component of Michigan's casino gaming law.
Hollywood Casino at Greektown
Licensees are mandated to prominently display the state's toll-free gambling helpline number, 800-270-7117, at all entrances and exits, on electronic funds transfer terminals, credit locations, as well as on all printed advertisements and promotional materials.
Looking ahead, the three Detroit casinos are scheduled to undergo another round of license renewals in August 2024.
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