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Greektown Banks on Slot Machine Revenue

A Michigan casino has placed its bets on a delivery of new slot machines. The Greektown Casino is adding six hundred new slot machines as part of its five hundred million dollar, large-scale expansion. The struggling casino is looking towards the popular casino pastime in the hope that these new machines will provide a chunk of the funds they need to bail themselves out of bankruptcy.

The Greentown Casino is already host to over twenty-six hundred slot machines. The addition of the new machines will bring that total to thirty-two hundred. The new slots will have a home on the Casino’s recently-completed twenty-five thousand square foot expansion of its gambling floor. Their total number of slot machines is expected to top thirty-six hundred when an extra four hundred machines are installed in the casino’s all-new, fully-renovated VIP lounge by the end of the year. The Greentown will also open two additional new casino lounges and a restaurant by November, with a four-hundred room hotel slated to open its doors early next year.

The Greentown Casino filed for and received Chapter 11 bankruptcy protection back in the spring. In May, construction teams working on the much-storied expansion warned the casino that there were prepared to strike if they were not paid for their work. Banking on the expansion being lucrative and paying for itself, the casino has optimistically forecasted bailing itself out of bankruptcy within a year, by next summer. With that many slot machines, the Greentown will surely become a destination for gaming enthusiasts!

Back to September 2008 Archive.