The MGCB Extends the Licenses of Detroit Casinos in a Unanimous Vote
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The Michigan Gaming Control Board (MGCB) at their regularly scheduled public meeting unanimously decided to approve the one-year renewal of the licenses for the three permitted casinos in Detroit:
- MGM Grand Detroit
- MotorCity Casino
- Hollywood Casino at Greektown
A quorum of three votes, as defined by law, is needed for the Board to make a final decision on an application for a casino license.
According to MGCB Executive Director Henry Williams, renewing a casino license signifies a continuous dedication to running a respectable and responsible business. It represents a commitment to upholding the industry’s high standards of quality, safety, and fairness. The renewal of these licenses is a recognition of the casinos’ dedication to doing business in Michigan as respectable corporate citizens who favorably impact the state’s gaming market while delivering a fun and safe experience for all visitors.
The application procedure for casino licenses and the data applicants must provide to the MGCB are set out in the Michigan Gaming Control and Revenue Act. The MGCB must carry out a thorough assessment of the casino’s operations, operational integrity, financial state, adherence to regulatory and legal frameworks, and use of responsible gaming practices before granting a casino license renewal.
Licensees must pay their wagering tax every day by electronic funds transfer and are subject to an 18% tax rate on adjusted gross revenues. In addition to receiving development agreement payments, the state gets 8.1% of the wagering tax, and Detroit receives 9.9%. The casinos also pay an annual charge to fund the state’s regulatory costs, in addition to an 8.4% tax of qualifying adjusted gross revenue from retail sportsbooks.
