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Gaming Guru
Detroit Casinos Provide More Than Just Tax Revenue24 January 2001
Of the $743 million generated by Detroit's three casinos in 2000, $73.6 million was be paid out to the City of Detroit and $60.2 million was paid to the State in the form of a wagering tax (18 percent). The three casinos also pay a State Services Fee and a Municipal Services Fee. In addition, each casino is responsible for application, licensing and regulatory fees assessed by the Michigan Gaming Control Board. The regulatory fees and taxation on gaming revenues far surpass what is paid as a result of any other industry-specific tax in the State of Michigan. The good news for Michigan residents is that despite the high tax rate and regulatory costs on the Detroit casinos, each property still produced a respectable return on investment. In addition to the taxation benefits received by the three Detroit casinos, each property is required to purchase at least 30 percent of its goods and services from local businesses. In this regard each casino has sponsored educational forums to assist Detroit area businesses in understanding how they can supply Detroit Related Links
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David Waddell |
David Waddell |