U.P. Casinos Show Profits

Even though its Greektown Casino fell into bankruptcy, 2008 proved a bumper year for the Sault Ste. Marie Tribe of Chippewa's five casinos in Michigan's Upper Peninsula, tribe officials announced Monday.

The 2.5 percent increase in profit compared with 2007 brought in $31.28 million for the tribe, and came as the Sault's Kewadin Casinos arm, which operates the U.P. gambling halls, went through a year of cost-cutting.

"In a state and national recession and at a time when revenues and profits are down significantly in gaming markets across the nation, we are proud to report relatively strong performances at our five Kewadin Casinos in Northern Michigan," said Joe McCoy, chairman of the Sault Tribe, in a statement.


For the complete story, please see Nathan Hurst, U.P. casinos report a profitable year, The Detroit News, March 3, 2009.