Casinos, not cars, are keeping Detroit afloat

The city anticipates a $10.4 million drop in casino-tax revenue for the fiscal year that ends June 30. The 5.7 percent decrease would be the largest since the casinos opened in 1999 and 2000. Detroit's name is forever linked with automakers but bankruptcy filing shows that it's revenue from casino taxes has become crucial to the financially insolvent city. Title: 13-0983 - Rpt. on Gaming Tax Revenue June 2013 Author: Legistar Created Date: 8/19/2013 9:33:00 AM In FY 2013, Detroit will receive $171.8 million in state revenue sharing payments, down $162 million, or 48 percent, from the level it received in FY 2002. There is no question that the sharp While it is not yet known how much casino tax revenue came in to Detroit during the 2013 calendar year, the city took in $174.5 million in casino tax revenue in its 2012-2013 fiscal year which THE RISK OF A DROP In fiscal year 2013, casino taxes brought in $174.6 million, down 3.7 percent from $181.4 million the year before, according to Orr's latest plan of adjustment filed in May. That was nearly 17 percent of Detroit's general fund revenues, with only income taxes and state funds larger revenue sources. Orr's plan predicts it will continue to drop to just over $168 million in Detroit Casinos Report 6.3 Percent Revenue Increase, Motor City Gaming Off to Fast 2020 Start. Posted on: March 11, 2020, 10:19h. Last updated on: March 11, 2020, 03:45h. The judge overseeing Detroit’s bankruptcy said the city’s casino tax revenue is protected by U.S. law and can’t be frozen by Syncora Guarantee Inc. in their dispute over a proposed $253 Compared to November 2013, revenue last month at MGM Grand Detroit decreased 6.2 percent to $43.5 million and at MotorCity Casino it dropped 6.8 percent to $36.8 million. Greektown Casino was the Detroit's three casinos reported a combined record $140.3 million in total aggregate revenue in March, the Michigan Gaming Control Board said in a news release.The previous monthly revenue record

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