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Detroit casinos see profit surge

11 March 2009

DETROIT, Michigan -- As reported by the Detroit Free-Press: "Greektown Casino increased its share of Detroit's gaming market in February -- as the three casinos reported that revenues were up more than 9% from January.

"...Greektown's market share went from 22.76% in January to 23.52% in February.

"Greektown opened its 400-room hotel in February and since then has pushed a $99-room deal with $10 in free play at the casino. The buzz has helped the property, but probably also helped all three properties, said Randall A. Fine, managing director for the Fine Point Group.

"...The Michigan Gaming Control Board reported that revenues at the Detroit casinos were up 4.1% in February from the same month in 2008. MGM Grand Detroit's numbers were up 5.17%, MotorCity's 4.37% and Greektown's 1.88% from February 2008.

"All three properties reported gains from January. Revenues had been declining each month year-over-year since November..."

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