Greektown Continues to Struggle

From the outset, Greektown Casino has been days late and millions of dollars short.

The ching-ching-ching of slot machines rang out first at MGM Grand Detroit's temporary casino in July 1999. Five months later, MotorCity Casino got into the gaming groove.

But it wasn't until November 2000 that Greektown Casino took its first bets.

In October 2007, MGM Grand unveiled its $700-million permanent casino and hotel. Five months later, MotorCity opened its permanent facility.

But Greektown didn't open its 400-room hotel until February, the last piece of its permanent building.

This weekend, all three downtown casinos are full of Final Four revelers, with Greektown located closest to the Ford Field games.

"We're very optimistic," Randy Fine, a Greektown turnaround consultant, said Friday as crowds milled through downtown.

But one slam-dunk event won't erase the $777 million that Greektown owes creditors and lenders.

The owners of Greektown Casino, the Sault Ste. Marie Tribe of Chippewa Indians, filed for bankruptcy protection about a year ago.

For the complete story, please see Mary Francis Masson, Greektown always lagged behind, Detroit Free Press, April 5, 2009.