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Detroit casinos show promise
July 29
Five years ago when the first
casino was opened in Detroit, the promise of economical
relief for the struggling city was guarded.
Now, with three casinos
currently operating in Detroit a steady cash flow is being
infused into the local economy. The three casinos together
have earned $4.8 billion since MGM Grand Detroit Casino
opened there five years ago this month. After MGM opened,
Motor City Casino and Greektown Casino opened in within the
next year. They contribute 9.9% of their earnings to the
city of Detroit and an additional 8.1% to a state education
fund.
In fiscal 2001-2002, the city
collected 12% of it revenues from these casinos. That is
$122 million. The casinos employ approximately 7,600 people,
over 50% of the employees are Detroit residents. |
