Greektown Casino Almost Out of Cash?

From the "Not so Good" file comes this...

Free Press Article

I find it absolutely incomprehensible how any casino in a 'protected' gaming market can have financial difficulties. The situation seems very elementary to me. You have revenue generators (casino games) that are 'fixed' in your favor and can be statistically quantified to forecast how much you'll earn, and you still loose money. That says one big thing to me... Bad Management. Do they understand the terms 'Cost Containment'?

There is a separate article in the Detroit News about how the City of Detroit is trying to direct a forced sale. Normally, when it comes to the City, I'm very skeptical, but in this case I can't blame them.

As I've stated before, I enjoy Greektown, but this situation is beginning to look very bad. When the word on the street is that they are low on cash, you can only help but wonder how this will effect patron visits. If someone hits a progressive jackpot (Wheel of Fortune or MegaBucks), do they say "We'll pay you next month when we have the cash?". I'm sure the MGCB (and progressive slot contracts) don't allow that, but perception can become reality in a hurry.