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Detroit casinos post small profit for 2016 compared to 2017

Apr 14, 2017 9:15 AM

The three Detroit casinos posted a small profit for 2016 compared to the previous year, according to new data released by Michigan Gaming Control Board. Profits rose .07 percent in 2016 from the previous year, according to the information just released.

The three Detroit casinos are MGM Grand, MotorCity and Greektown. The casinos reported paying $29.2 million in gaming taxes during the first quarter of 2017, compared with $28.4 million last year.

In December, the three’s revenue dropped 6.8 percent from the same period in 2015. But revenue has rebounded in 2017 with gains reported for the first three months, including a 5 percent rise in March.

In an effort to bolster the gambling business in Michigan, State Rep. Robert Kosowski (D-District 16), has proposed a bill that would allow sports betting. However, further action on it is likely to depend on an upcoming petition to the U.S. Supreme Court seeking to eliminate the Professional and Amateur Sports Protection Act (PASPA), which currently limit the practice to four states, Nevada, Oregon, Delaware, and Montana.