Detroit Has Reason to Celebrate This Holiday Season
26 December 2001
Once again the holidays are upon us and with them comes the end of yet another year of gaming in Michigan. Although most of us have been running around like mad in an effort to obtain gifts for those we care about, the Detroit/Windsor casino market has shown that it is the gift that keeps on giving. In the year gone by the market has shown its generosity, even without the establishment of permanent casinos on the Detroit side of the river. Looking solely at Detroit's gaming industry, the three temporary casinos are nearing the billion-dollar-a-year mark, with year end revenues projected to exceed $1 billion. Add Casino Windsor's yearly revenues of $462 million (American) and the Detroit/Windsor casino market is approaching revenues of $1.5 billion per year. For just about everyone, including the state of Michigan, the province of Ontario, the City of Detroit, and various other groups and organizations, this statistic provides encouragement for the future.
The $1 billion generated by the three Detroit casinos contributes a very nice portion to City and State coffers. The State's portion of the Wagering Tax is set at 8.1% of the casinos gross adjusted revenue. This tax will have brought the state roughly $80 million by the end of year. This money is deposited into the School Aid Fund for statewide K-12 classroom education. The City