Detroit Has Faced $10 Million Loss after the Casino Shutdowns

The city of Detroit is having a tough time as it is facing a shortage in the casino’s tax, and because of the COVID-19 transmission, the city is currently bracing for a million of loss. The crisis forced the government to shut down the majority of the non-essential businesses, which include casino industries. Three casinos in that city got an order to close their operations.

Detroit Has Faced $10 Million Loss

Dave Massaron, the chief financial officer of Detroit, clarified everything on 24th November at a meeting with the City Council. He explained that the city would probably lose approximately $10 million only in three-week suspension order to the casino industries. He also mentioned that if the suspension order continued, the amount of loss could arise to $50 million, which is indeed a massive amount. Over several years, the city casinos are contributing much to the city’s overall economy.

Massaron argued about continuing the activity once again because casinos need to be reopened to contribute to the economy. Detroit should need to withdraw the suspension order to allow the taxes to begin flowing. It was very important for the officials to realize the sharp drop in the tax revenue and neglecting it might double the risk within a short period.

Because of the new restrictions given by Gretchen Whitmer, Michigan is right now facing another shutdown. Therefore, Massaron is suggesting the higher authorities to focus on this matter.

The Councilwoman Ayers asked David Massaron about the situation, and a suggestion was about the work under a shared environment, given by the deputy chief financial officer named Tanya Stoudemire.

Vincenzo Davari, a writer on Sweden's best online casino, is a reporter by profession, but a learner by nature who provides informative news regarding casinos and gambling. When he gets free time, he loves to travel and explore the unknown. His diligent work helped him to get the Journalist’s Award twice.

Posted in US