Are Detroit's casinos in trouble?

[DetroitPlanner]

Also, the reason the Indians sold Greektown to Dan Gilbert is because it was losing money.

I am fairly certain that the Keewhadin tribe did not own the Casino when Gilbert purchased it.

yep.. " Greektown Casino has been owned by a consortium of mostly out-of-state investors and hedge funds since it emerged from bankruptcy in 2010."

from Freep: http://www.freep.com/article/20130409/BUSINESS06/304090140/Dan-Gilbert-Greektown-Casino

[313WX]

I am fairly certain that the Keewhadin tribe did not own the Casino when Gilbert purchased it.

yep.. " Greektown Casino has been owned by a consortium of mostly out-of-state investors and hedge funds since it emerged from bankruptcy in 2010."

from Freep: http://www.freep.com/article/20130409/BUSINESS06/304090140/Dan-Gilbert-Greektown-Casino

I stand corrected...

[emu steve]

"Geniuses" in quotes. The same is happening in Illinois. It's called cannabilizing businesses.

I guess it is the mind set of most in the business world, sports, politics, etc., namely, I can succeed where others are or have failed.

E.g., EMU has never had a lack of candidates for head football coach whenever the position became open.

ALWAYS someone thought they could succeed where others had failed.

I guess without that mindset no one really succeeds big in business, politics or whatever.

[rb336]

Our 'only' problem today is that during the past decade [[2000-2009) Corporate America 'shipped' about 5 - 6M manufacturing jobs elsewhere and we have only developed about 500K new ones.

Don't forget, both Repubs AND Dems supported giving tax breaks to PAY those companies to move overseas including, for a while, nearly 100% depeciation right-offs for the abandoned factories which could only be collected if they sat vacant