A nice piece in the Sun about the guys that developed the Eastside Cannery and Cannery Resorts.
Categories: Business of Gaming
"When Greektown opened, in 2000, it was a smashing success. The casino captured a third of the Detroit market, more than the 22 percent Wall Street had expected."
Liz Benston is a little too kind. Greektown filed for bankruptcy this year so the Michigan Gaming Board couldn't force its sale. It is always a distant third among the Detroit casinos with MGM Grand first and MotorCity Casino second. I don't fault Paulos and Wortman. Greektown's principal owner, Sault Ste Marie Tribe of Chippewa Indians has done a lousy job, and the physical facility has been a real problem. Now that Greektown finally has its own parking structure, and the hotel will open at the first of the year, there may be some hope for it, but it's tough to dig yourself out of a hole.
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