Greektown Tangled in Red Tap
As reported by the Detroit News: "While MGM Grand Detroit and MotorCity casinos are working furiously to build lavish new permanent hotel-gaming complexes, Greektown Casino remains tangled in red tape that has prevented it from placing its first shovel in the ground. "The delays could end up costing Greektown Casino tens of millions of dollars in revenue. Both MGM and MotorCity already have started signing up conventions and events at the new facilities for 2008 and beyond. "MotorCity broke ground on its $275 million permanent facility late last year and expects to open by late 2007 or early 2008. It will use its current temporary casino as part of the structure. The $765 million MGM permanent facility, the only one being built from the ground up, broke ground earlier this year and is expected to open in early 2008.
"Greektown still expects to open its permanent facility by 2008, but is almost certain to trail its competitors.
"Trailing the pack is nothing new for Greektown. By the time it opened its temporary casino in 2000, its two competitors had been open a year and had raked in more than $900 million in gambling revenue. Greektown has never caught up, remaining a distant third among the three casinos in gambling revenue.
".Greektown is still at least several weeks away from receiving site plan approval from the Detroit City Planning Commission."