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Casinos In Detroit Contribute $2.2 billion To School Aid Fund

Casinos In Detroit Contribute $2.2 billion To School Aid Fund
Casinos In Detroit Contribute $2.2 billion To School Aid Fund

Commercial casinos in Detroit have contributed over $2.2 billion to Michigan’s School Aid Fund since 1999.

Detroit casinos pay 8.1 percent of their winnings towards state tax which supports statewide K-12 classroom education. Net win of the casinos is total revenue receipts less the winnings paid to the patrons.

On top of the state tax, the casinos pay a 10.9 percent tax on the net win to the city as a wagering tax.

“More than 20 years ago, Michigan lawmakers created a system for the Michigan Gaming Control Board to monitor the transfer of taxes from the casinos every weekday to the State School Aid Fund to benefit public education,” said Richard S. Kalm, executive director, MGCB.

“The casino tax revenue provides strong support for one of the government’s primary duties: the education of our youngest citizens,” he added.

According to the figures revealed by the Michigan Gaming Commission, Detroit casinos paid $117 million in wagering taxes to the State in 2018 which was used to fund education programs.

Until June 2019, the casinos have already paid $59.6 million in wagering taxes to the state.

It was in June this year that aggregate revenue generated from three Detroit casinos slipped for the first time in 2019. The Greektown Casino-Hotel, MGM Grand Detroit and MotorCity Casino Hotel made $117.5 million in aggregate revenue in June. It is a 1.4 percent decline from the revenue generated for the same period the previous year.

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Cameri Ross

Cameri Ross

Cameri is an independent and self employed person, she has expertise in digital marketing and content creation for websites and blogs. Her passion is dancing and singing, especially classical singing.

She can be reached out at: cameriross@casino.buzz

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