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Greektown increases revenue

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DETROIT – While the overall gaming market in Detroit saw a 4.2 percent decline in May, Greektown Casino-Hotel bucked the trend once again with a 7.2 percent year-over-year revenue increase for the month. Greektown was the only Detroit casino to see an increase, with MGM Grand Detroit and MotorCity seeing a 10.9 percent and 3.6 percent decrease, respectively.

“There can no longer be any question that Greektown has entered a new era,” said Randall A. Fine, managing director of The Fine Point Group and Greektown CEO. “This is the fourth consecutive month we’ve shown significant positive results at this property. That’s no small feat in a depressed economy and declining Detroit gaming market. Greektown is capturing market share and increasing revenue; and more importantly, we’re eclipsing the independently prepared profitability goals each and every month. In fact, year-over-year, even including millions in restructuring expenses that did not exist in 2008, we will increase our EBITDA dramatically. In a market like this and being the little guy on top of that, it’s a testament to what The Fine Point Group and an outstanding Greektown team can accomplish.”

“I don’t think there’s any secret to what we’re doing here,” said Amanda Totaro, Greektown vice president of marketing. “We’re giving our guests the most for their money – on the casino floor, in the hotel and at our food and beverage outlets. Each and every month Greektown is filled with great promotions. In June we gave away four 2010 Chevrolet Camaros and tons of cash and Bonus Play. We’re also doing our utmost to support the local economy by encouraging people to stay and play right here in Detroit by matching any hotel and slot play offers made by our competitors across the Detroit River. The bottom line is that we’re the place to come to win more and have more fun.”