Track Construction of Firekeepers Casino With Webcam

The progress of the construction of the Firekeepers Casino can be tracked on a webcam provided by the construction company building the casino. Based upon today's status, it seems hard to believe the casino will open on schedule. The reported opening date is "Summer 2009". And yet, the exterior shell does not even appear to be completed. . .

Greektown Opens New International Buffet

The all-you-can-eat buffet, a culinary staple of casinos since the beginning of time, arrives at Greektown Casino today with the opening of the Greektown International Buffet.

The buffet, a 275 seat, $18.95 buffet, will feature made-to-order food, not pre-prepared by food vendors, but cooked to order. The publicized menu can be found here.

Sault Tribe of Chippewa Have Until February 1, 2009 To File Plan For Exit From Bankruptcy For Greektown Casino

Greektown Casino, which has been operating under bankruptcy protection since May 29, 2008, has until February 1, 2009 to file a plan for an exit from bankruptcy.

The Sault Ste. Marie Tribe of Chippewa, the tribal owners of the casino, are currently analyzing the various options available to the Tribe. One option is the sale of the casino, which would end the outflow of money from the Tribe to the casino, estimated at $47 million in 2008 alone. These cash infusions required the Tribe to lay off tribal employees, and suspend certain tribal benefits. However, the sale option would prevent the Tribe from enjoying any of the potential upside when (or if) the Detroit casino market recovers. In addition, there are few potential buyers for the casino, given the current status of the credit markets, and the global economy.

A second option is the continued ownership of the casino, which will require restructuring of the debt of the casino, and would likely involve more cash contributions from the Tribe.

Stay tuned. . .

Greektown To Hire 150 More For Hotel

Greektown casino, which plans to open its permanent hotel in February 2009, is seeking to hire an additional 150 employees to work in the hotel, in jobs ranging from housekeeping to sales representatives.

With these hires, Greektown would have hired 400 permanent employees for its hotel project. This is offset by its laying off of 89 casino operations employees earlier in 2008, due in part to its declining revenue in 2008 versus 2007.

MGM Grand Receives Two AAA Four Diamond Rankings

In a report in Crain's Detroit Business (subscription req.), MGM Grand Detroit has received two separate AAA Four Diamond ratings.

The first Four Diamond rating is for the hotel itself.

The second Four Diamond rating is for the Saltwater restaurant within the casino complex.

Iridescence restaurant at the MotorCity casino complex had been previously awarded a Four Diamond rating.

No Spa For Greektown; MGM and MotorCity Might Regret Decision

Greektown Casino's hotel, scheduled to open in February, 2009, will open without a planned spa.

Greektown's spa cancellation appears to be a combination of lack of funding, and a recognition that Detroit's casino market differs from Las Vegas. The spas at MotorCity Casino's hotel, and the MGM Grand hotel are implied to be boondoggle money-losers based upon press reports.

Maybe in just this one instance being third to market is a good thing for Greektown. . .