Michigan Gaming Control Board Decides to Extend the Licenses of Detroit Casinos
2.1K
On Aug. 9, 2022, During a public hearing on Tuesday morning, the Michigan Gaming Control Board unanimously decided to approve the one-year renewal of the licenses for three casinos in Detroit. According to the legislation, three votes are needed to approve the board’s final decisions regarding licensing applications for casinos. Please note that gambling websites MI are required to be partnered with land-based casinos.
Henry Williams, executive director of the MGCB said that a casino license is a privilege bestowed by the State of Michigan. As required by law, board members and agency employees take their obligations seriously when evaluating this privilege annually.
The application procedure for casino licenses and the data applicants must provide to the MGCB are outlined in the Michigan Gaming Control & Revenue Act. The Act also instructs the MGCB to take into account several elements while deciding whether to award a license, such as:
- Honesty, morality, and reputation;
- Business ethics;
- Experience and financial well-being;
- Whether or not a casino has established and implemented initiatives to address compulsive gambling.
Licensees must pay the wagering tax every day by electronic funds transfer and are subject to an 18% tax on adjusted gross receipts. The City of Detroit also receives development agreement payments in addition to the 9.9% of the wagering tax that goes to the state (8.1%). Additionally, casinos must pay an 8.4% tax on eligible adjusted gross receipts from retail sports betting. The casinos also pay an additional yearly tax to fund the state’s regulatory costs.
Standards for encouraging responsible gaming are included in Michigan’s casino gaming law. The state’s toll-free gaming hotline number, 800-270-7117, must be displayed by licensees at all entrances and exits, on each EFT terminal, at each credit location, and on all printed marketing and promotional materials.
