Greektown News

December 17th 2009:  Management of Greektown Casino Hotel in flux as Fine Point Group's contract expires

Leadership of the Greektown Casino Hotel will be in flux as of January 1 after Greektown's board of directors decided not to offer a new contract to Las Vegas-based Fine Point Group, which has run the casino for the last year.

“We are proud of the milestones we have achieved, and as we turn property operations back over to the tribe, we wish them the greatest of success in 2010 and beyond,” Fine wrote. In the statement, Fine points out that his firm increased revenue to an estimated $73 million for 2009, topping 2008 by 40 percent and increasing market share from about 20 percent to 27 percent.

November 16th 2009: Greektown Casino-Hotel in Detroit and The Fine Point Group Implement Bally Business Intelligence™ Solutions.

Bally Technologies, Inc. (NYSE:BYI), a leader in slots, video machines, and casino-management systems for the global gaming industry, today announced that Greektown Casino-Hotel in Detroit, Mich., a $350 million casino property managed by The Fine Point Group, has installed Bally Business Intelligence (BI) for data analytics and visual analysis of gaming-floor performance, player and game interaction, and player behavior.

November 11th 2009:  "Greektown gains revenue over last year, other Detroit casinos gain over September" by J. Oosting in mlive.com. 

Greektown Casino, mired in bankruptcy proceedings, continues to see gains while Detroit rivals sputter. The hotel and casino pulled in $29.3 million in October, up 4 percent from September and 18 percent over last year, according to data provided by the Michigan Gaming Control Board. Meanwhile, competitors performed well in October and continue to pull in more cash than Greektown, but are also pulling in less cash than they did last year.

November 3rd 2009 - Randy was quoted on the Michigan NPR radio relating to 'Will Ohio Voters Bet on Casinos', by Claudia Boyd-Barrett.

October 30th 2009 - Randy was quoted in the article "Detroit Casinos Fare Suprisingly Well in touch Times" on October 30th 2009 in the Wall Street Journal.

Detroit has lost jobs, residents and much of its auto industry. But its gambling business is doing surprisingly well. At the Greektown Casino Hotel, owned by the Sault Ste. Marie Tribe of Chippewa Indians, revenue is up 6.1% this year. Cutting its hotel-room prices to $99 a night and dropping its all-you-can-eat buffet to $9.99 from $19 has helped it draw more business. "We feed four times as many people as we used to," said Randall Fine, who became Greektown's chief executive in April.
 

October 29th 2009 - Randy was quoted in the local ABC news I-Team Report on Issue 3 in Ohio.

Read the full press release now on the PR News Wire.

Read the article, Detroit casinos' profits decline slightly, in the Detroit News by Nathan Hurst.

August 2nd 2009 - One month after entering bankruptcy protection, Greektown Casino Hotel finished June 2008 with revenue down 18 percent from June 2007 and captured an all-time low 21.1 percent of the gaming market share in Detroit.  One year later, the casino continues to operate in bankruptcy but has shown a 24 percent increase in revenue over June 2008 and market share that has increased to 26.4 percent.

Read the full article on Crains Detroit.
 

July 9th 2009 - Greektown Casino-Hotel posted all-time highs for both profit and revenue in June. Projected EBITDAR for June 2009 is expected to be more than three times as high as June 2008, and the highest ever in the month of June for Greektown. Revenue for June was also up year-over-year by 24.2 percent, the third-straight month the property has surpassed 2008 numbers. Finally, Greektown once again gained market share, capturing nearly another percent of the Detroit market.