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Detroit's Casinos Push Industry26 August 2001DETROIT, Michigan –August 26, 2001 –As reported by the Detroit News:" Detroit's casino industry turned out to be one of the brighter spots in 2000 for the entire business of betting. "Consumer spending on all sorts of wagering nationwide rose 5.4 percent to $61.4 billion in 2000. "…Casinos, the single biggest segment of the gambling industry, saw revenues rise 5.9 percent to $26.35 billion. Of the $1.46 billion increase, about half came from Detroit casinos. "…While the wagering business will continue winning over its fair share of aging baby boomers, growth has wound down for several reasons. "The spread of casino-style gambling in new jurisdictions in the '90s has slowed. "…Las Vegas gave itself a makeover in the '90s, opening new mega-resorts with Disneylike amenities. By now, many tourists have satisfied their curiosity about that city and new casinos markets. "…Consumers have more options. "`You've got a lot of competition for people's leisure time and dollars,' Bear Stearns gaming analyst Marc Falcone said…" |