The commercial casino owned by the Sault Ste. Marie Tribe of Chippewa Indians of Michigan has seen a 6.1 percent increase in revenue and will emerge from bankruptcy by the end of the year, an executive said.
The Greektown Casino Hotel in Detroit has cut hotel rates and reduced prices of amenities since declaring bankruptcy. Profits were up 38 percent in the last quarter as a result, chief executive Randall Fine told The Wall Street Journal.
Overall, revenues at Detroit's three casinos are down just 2 percent from last year. That's much better than the casinos in Atlantic City and Las Vegas.
Get the Story:
Detroit Casinos Fare Surprisingly Well in Tough Times
(The Wall Street Journal 10/30)
Regulation
Soo Tribe's Detroit casino on route to recovery
Friday, October 30, 2009
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