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The city of Detroit is not any different than others in the United Stats. Whether or not their Red Wings won the Stanley Cup, they still are dealing with tough economic times.
Their casinos are following a trend throughout the country of revenue loss. While two of their casinos had revenue figures decrease from July of 2007, MGM Grand Detroit saved the day by posting a revenue increase.
MotorCity Casino had a decrease of 7.26 percent from last year in July. Their revenue of $39.6 million was down from $42.7 million last year.
Greektown Casino experienced a much more drastic drop in revenue. Their $25.4 million dropped off 13.2 percent from July of 2007. The two casinos are following the national norm for casinos.
MGM did not have such problems. They took in $50.5 million in revenue, an increase of a whopping 22.25 percent. That increase is unusual at a time where the economy is hurting almost every casino in the country.
Fuel prices have been cited at many of these casinos as the reason for revenue decreases. People have also been losing their jobs which is resulting in less gamblers having the money to frequent these casinos.
Plans For Atlantic City Casino Revealed By Pinnacle Entertainment
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Atlantic City used to be considered the Las Vegas of the East. Those days have long been gone, but that has not stopped the city from starting to renovate themselves and their casinos.
One of the renovation projects was the former Sands Casino Hotel. The casino was knocked down, and the land belongs to Pinnacle Entertainment. The company had planned to build a new casino on the land.
Those plans seemed almost doomed recently when tough economic times made the reality bleak for a new casino. The company was pondering not even building the casino, but now that has changed.
The company has announced that it is continuing with its plans to build a new casino resort. They most likely will still wait until the economy stabilizes before they begin the project, but it is in the final phases of planning.
The design work is just about finished for the new project, according to Pinnacle Chairman Dan Lee. The casino will have a beach theme when it finally is built.
“We have a beach here, and that’s something that distinguishes us from our competitors. We think it’s a great distinguishing factor for us,” said Pauline Yoshishasihi, Pinnacle spokeswoman.