Detroit Casinos Show Profits

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.

"We are attracting folks that play at other properties ... it says that players are interested in what we have here, and folks are playing more with us than they had been," said Amanda Totaro, an executive with the Fine Point Group, a Las Vegas consultant working with Greektown.

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.

"It wouldn't surprise me as we step up our game that our competitors would do so as well," said Fine. "A good casino operator isn't going to sit around and complain about the economy ... maybe all three Detroit casinos have adopted that attitude."

For the complete story, please see Mary Francis Masson, Profits surge in February at Detroit's casinos, Detroit Free Press, March 11, 2009.