Greektown Casino-Hotel Announces All-Time Highs in Both Profit and Revenue for June

Thu Jul 9, 2009 6:41pm EDT
 
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Greektown Casino-Hotel Announces All-Time Highs in Both Profit and Revenue for
June
Greektown only Detroit casino to exceed 2008 revenues for third-straight month

DETROIT, July 9 /PRNewswire/ -- Greektown Casino-Hotel posted all-time highs
for both profit and revenue in June, announced casino officials today.
Projected EBITDAR (Earnings before Interest, Taxes, Depreciation,
Amortization, and Restructuring Expenses) 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. The positive results all came on the heels of a
stellar May, when Greektown posted a 7.2 percent year-over-year revenue
increase while the overall gaming market in Detroit saw a 4.2 percent decline.

(Logo:  http://www.newscom.com/cgi-bin/prnh/20090209/LA68425LOGO)

"We have spent the month welcoming thousands of former Windsor customers,
which not only helps our bottom line but adds jobs and tax revenues right here
in Detroit.  We are thrilled with the results of our 'Match Windsor' promotion
and are honoring it again in July," said Randall A. Fine, Managing Director of
The Fine Point Group and Chief Executive Officer of Greektown. "To grow
revenues 24% in this economy is something each Greektown team member can be
proud of, but more than that, I cannot emphasize enough that we are doing this
while dramatically growing our profits and increasing our operating margins. 
Anyone can buy business - to triple profits in this economy is awfully hard to
ignore," Fine added.

Located at 555 E. Lafayette Boulevard in Detroit's Greektown Entertainment
District, Greektown Casino-Hotel opened on Nov. 10, 2000. Readers of The
Detroit News and Detroit Free Press have voted Greektown Casino-Hotel
Michigan's and Detroit's "Best Casino" numerous times. Greektown Casino-Hotel
offers such amenities as their all-new International Buffet, the Eclipz Lounge
and a VIP lounge for players. In addition to being named "Best Casino" by
readers of The News and Free Press, Greektown Casino-Hotel also placed first
in other categories in The News' reader survey, including "Best Slots," "Best
Wait Staff Outfits," "Best Craps Tables," "Best Blackjack Tables," "Best High
Rollers Area," "Best Casino Restaurant," and "Best Casino Entertainment."
Greektown Casino-Hotel opened its new 400-room hotel tower February 2009. For
reservations and group events, call 877-GCH-5554 or visit greektowncasino.com.



SOURCE  Greektown Casino-Hotel

Riley Meredith, riley@preferredpublicrelations.com, or James Woodrow,
james@preferredpublicrelations.com, both of Preferred Public Relations,
+1-702-254-5704, for Greektown Casino-Hotel

 

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