Yesterday the Michigan Gaming Control Board voted to approve of the extension of the gaming licenses for the MotorCity Casino, MGM Grand Detroit, and Hollywood Casino Greektown.
The extension is good for one year and the vote came unanimously. The three casinos have been operating in Detroit for over twenty years and have brought in thousands of jobs and lots of money during that time. Casinos are taxed at 18% of gross receipts and pay the taxes daily. The city of Detroit gets 9.9% and the state gets 8.1%.
The state's laws currently require the licenses to be renewed on a yearly basis.
Regarding the vote MGCB Executive Director Henry Williams said, "A casino licence is a privilege granted by the State of Michigan. Board members and agency staff take seriously our responsibilities when reviewing this privilege each year as required by law."