Licensed regulated gambling in Michigan boosted schools with taxes for more than $2.5 billion between 1999 and 2021, reveals a new report released by the regulator in the state.
MGCB Celebrates a Landmark Moment
The Michigan Gaming Control Board (MGCB) announced Thursday that it had collected more than $2.5 billion from casinos in Detroit, as well as online sports betting, internet gambling, and fantasy contests, since the signing of the Michigan Gaming Control and Revenue Act in 1997. The money helped fund Michigan’s School Aid Fund and marks a significant contribution collected by the MGCB for the last two decades.
Currently, taxes from online sports betting, fantasy contests and internet gambling are collected and transferred to the School Fund at the end of each fiscal year. On the other hand, the taxes from Detroit casinos, retail sports betting and gambling are collected monthly and then allocated to the School Aid Fund.
Regulated Gambling Operators in Michigan Contribute $2.52bn in Taxes
The overall sum, collected in gambling taxes between 1999 and 2021 is $2.52 billion, according to the MGCB. The regulator provided a breakdown of the total, showing that retail table games and slots contributed $2.43 billion in taxes for the period. Additionally, $1.7 million was raised by retail sports betting operations between 2020 and 2021. Online gambling activities contributed $87.2 million in taxes for 2021 alone, while internet sports betting brought another $1.8 million. From the start of regulation of fantasy contests in 2019, until 2021, operators contributed $2.4 million in taxes.
Besides collecting taxes, the MGCB also conducts license application reviews, ensures compliance, investigates regulatory breaches and takes action against illegal operations. According to the recent announcement, last year, the regulator “licensed or registered 2,021 entities, including 878 related to the commercial casinos and 651 related to internet gaming and sports betting.” Additionally, it said it completed nearly 320 criminal investigations, 240 of which were related to public tips for illegal gambling operations.
The Gambling Regulator Is Proud to Help Michigan’s Schools
Henry Williams, MGCB’s executive director, commented on the topic by saying that every dollar invested in education helps the future of the workforce in the state. He explained that the MGCB is proud to collect taxes from legal, regulated gambling operators and help the school system in Michigan.
“The MGCB applies rigorous standards set by Michigan laws and our administrative rules to make sure Michigan residents and visitors enjoy fair gaming whether they visit a Detroit casino or an authorized internet operator.”
Henry Williams, executive director at the MGCB
Williams acknowledged that the Board remains committed to enforcing the highest standards to ensure the compliance of retail and online gambling operators. In turn, this helps the visitors and residents of the state enjoy fair gambling activities, he explained. Last but not least, Williams said: “It’s a big task for a small agency, but we have a reputation of getting things done.”