Casinos Go Into Panic Mode By Hiring Strategy Firms, Cutting Jobs

The new year has begun and the change that casino owners around the US have been hoping for has not yet occurred. The economy has forced some casinos to make drastic moves already in 2009.

Greektown Casino in Detroit is preparing to come out of bankruptcy and they made an important decision this week. The casino has hired a Las Vegas based consulting firm to help with the future direction of the casino.

In Atlantic City, casinos have begun the new year with the lowest employment rate in the past twenty years. Over 2,000 jobs were lost last year because of the drop in revenue at the city's casinos.

The Atlantic City workforce is driven by their casinos. When the casinos struggle as they are now, the entire city feels the effects. Casino owners are hoping that 2009 brings brighter days than in the past year.

In Detroit, Greektown is working diligently on their way out of bankruptcy. The firm they have hired, Fine Point Group, has worked with some of the biggest casinos in the country. Three members from the group will begin working immediately as vice president of marketing, chief executive, and general manager of the casino.

The firm will receive $150,000 a month to help turn around Greektown. In order for the one year contract to be executed, U.S. Bankruptcy Court and the Michigan Gaming Board must both approve the firms hiring.

January 7, 2009
Posted By April Gardner
Staff Editor, CasinoGamblingWeb.com
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