How will these new Casinos impact the existing Casinos in Detroit?
A Gaming Market Study performed in 2010 predicts that the new Casinos would have less than a 5% impact on Detroit’s existing Casinos. They are currently growing at between 3% and 6% a year.
How will Detroit Benefit from these New Casinos?
The CMMJ proposal increases the Gaming tax ALL casinos pay to 23%. That is roughly the same level of increase Mayor Bing requested of the States Legislature. (see article here http://detroit.cbslocal.com/2011/04/15/detroit-casinos-feel-singled-out-by-proposed-tax-increase/) Adding in the tax generated from DCP, and the City of Detroit would get almost 100 Million additional dollars per year. All the taxes paid to the city of Detroit by the casinos is designated by the new law to go to public safety services (police and fire). .
The City would also benefit from its proportionate share of the millions in additional Statewide Education and Police & Fire funding paid by all casinos.