Greektown Casino-Hotel officials announced today that market share increased from January 2009 to February 2009 by nearly one percent and represents the first market share increase for the property since September 2008.
Greektown Casino also showed positive year-over-year February revenue numbers, with an increase of 1.89 percent, in relation to February 2008.
February 2009 revenue is the highest for the company since it filed for Bankruptcy in May 2008. In addition, the company is also exceeding internal financial projections and expected hotel occupancy rates.
"Our numbers are positive compared to last year and that represents a great new beginning for Greektown. The market share increase from last month to this month indicates signs of a positive trend. The Fine Point Group was selected to turn this property around, and while we are a long way from being out of the woods, we are excited about the new momentum and are looking forward to continued progress," said Randall A. Fine, Managing Director of The Fine Point Group and soon to be Chief Executive Officer of Greektown Casino-Hotel pending regulatory approvals.
In recent weeks, Greektown Casino-Hotel embarked on a new marketing program including hotel incentives for players, a starting room rate of just $99, several casino promotions with chances to win a "life changing" amount of money such as "Spin to Win $1 Million" and "Sure Win Hot Seat."
"While the revenue numbers look great, anyone can grow the topline if they lose focus on profitability. At Greektown, we are also exceeding all of our internal profitability projections and goals - by 30 percent in January and 80 percent in February. The new hotel tower is doing great as well, with 60 percent weekday and 80 to 100 percent occupancy on weekends. We're pushing an aggressive marketing campaign and we've begun to see positive numbers as a result. We are going to show the people of Detroit that no one will work harder for their business," said Fine.
Located at 555 E. Lafayette Avenue in Detroit's Greektown Entertainment District, Greektown Casino-Hotel opened on Nov. 10, 2000.
Greektown Casino-Hotel offers such amenities as their all-new International Buffet, the Eclipz Lounge and a VIP lounge for players.
Greektown Casino-Hotel opened its new 400-room hotel tower February 2009.
For reservations and group events, call 877-GCH-5554 or visit http://www.greektowncasino.com/.