Detroit Casino Revenue Down In July, But Looking Up

The city of Detroit and their casino revenue received a boost this year that few cities around the country experienced. The NCAA Final Four basketball tournament provided that boost back in April.

Since then, however, things have not been so rosy for casinos in the city. In July, the casino revenue was down only slightly from the previous year, but it was up from June of this year. The upward movement is something that casinos are hoping will continue as the summer ends.

"Detroit has been hit possibly as hard as any city in the country by the economic downfall," said observer William Baxter, "and even with these tough economic times, the casinos in Detroit seem to be holding their own in comparison to national figures."

Baxter understands the economical impact the recession is having on the rest of the US. Las Vegas and Atlantic City, two cities that have built their reputations largely on the casino industry, have both experienced double digit revenue decline in the past several months.

One casino in Detroit, however, is bucking the trend. Greektown Casino, which is currently trying to stave off bankruptcy, had an increase from year over year in July of over twenty-five percent. That is in contrast to the MotorCity and MGM Grand casinos that have seen revenues dip from last year to this year in July.

August 12, 2009
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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