MGCB Expects to Receive $51M in Funding for FY2024

The gambling regulator in Michigan, the Michigan Gaming Control Board (MGCB), would benefit from nearly $51 million in funding, after the state’s legislators reached an agreement for the Fiscal Year 2024 budget. Overall, some $50.7 million would be dedicated to the regulator, allowing it to continue to effectively monitor the market and promote responsible gambling.

Within the new budget, some $3 million in annual funding is allocated for MGCB’s responsible gaming messaging campaign called “Don’t Regret the Bet.” The responsible gaming initiative seeks to raise awareness of problem gambling and help residents of Michigan to keep their gambling under control.

According to the gambling regulator, as a part of the new 2024 budget, it will benefit from $2.2 million which will be allocated for 16 full-time equivalent (FTE) employee positions that can support new gambling programs. Additionally, the regulator will benefit from a one-time funding of $2 million which will be used “to create an accounts receivable system that is integrated with an existing internal agency database and the state’s financial system, SIGMA.”

The new budget agreement is now awaiting the signature of Gov. Gretchen Whitmer. Once that happens and the new bipartisan budget agreement is signed into law, the allocation of funds is expected to be completed on October 1, 2023, which marks the start of the state’s FY2024 budget calendar year.

The Funding Will Provide Vital Support for the MGCB

Henry Williams, MGCB’s executive director, spoke about the importance of having a gaming regulator that is sufficiently funded. He explained that the MGCB plays a key role in combating illegal activities and fraud, while at the same time promoting safer gambling.

Finally, Williams pointed out: “I sincerely appreciate the support from Governor Whitmer and the Legislature of a budget that will help the MGCB continue its responsible gaming messaging campaign, support our state’s growing gaming economy, and allow us to grow our team and make investments into efficient systems that help strengthen our mission and integrity while supporting those we serve.”

“A well-funded gaming control agency is crucial for ensuring fair and honest gaming in the State of Michigan, preventing fraud and illegal activities, and addressing problem gambling.“

Henry Williams, executive director at the MGCB

The announcement about the new budget comes after the results for the three casinos in Detroit for May were released recently. Judging by the latest report by the MGCB, the state’s three casinos reported $105.6 million in monthly aggregate revenue. This helped raise some $8.5 million in taxes, which was in line with the $8.6 million in taxes collected in May 2022.