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Detroit Casino Revenues Up

DETROIT, Michigan – As reported by the Detroit Free Press: "Just when everything from jobs to automakers' market share seems to be shrinking, Detroit's casino revenues are rising, a consistent bright spot on southeast Michigan's economic horizon.

"The casinos have done better than experts predicted when the first one opened in 1999, and in the past five years, they've taken in an eye-popping $4.2 billion.

"Last year, despite news of job cuts and a sluggish economic recovery, the casinos' revenues rose half a percent to $1.130 billion, up from $1.125 billion in 2002.

"…Analysts caution that while casino revenues should remain stable, they aren't likely to grow much in the coming years.

"…The state's 17 Indian casinos have suffered little. Tribal slot revenues have grown each year, partly because new casinos opened.

"…Gambling analysts say the chances for growth in Detroit's casino revenues are slim until permanent casinos open, perhaps in 2006…"

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