Greektown increases market share for third straight month
May 7, 2009
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Detroit
property continues strong 2009, now with more than a quarter share of the
market
Continuing a trend that started in February, for the third consecutive month, Greektown Casino-Hotel increased its market share, from 25 percent in March to 25.7 percent in April. From January, where the property had 22.8 percent share, the net increase is 2.9 percent, an increase of 13 percent, announced Greektown officials.
“Despite being at a competitive disadvantage due to the Final Four and a competitor’s offer of cash to any of our customers who showed their CLUB Greektown card, our strategy of providing Detroiters more ways to win, more ways to have fun, and more value for their dollar is resonating in the marketplace. Our hotel is 80 percent full, and we have more than tripled our buffet covers since implementing our strategy,” said Randall A. Fine, Managing Director of The Fine Point Group and Chief Executive Officer of Greektown.
“We are particularly pleased that for the first time since The Fine Point Group became involved in January, our operating income was higher year-over-year – and that’s compared to last year when we were not in bankruptcy,” Fine added. “Moreover, we beat the independently prepared financial plan for the second month in a row by 100 percent. May has started strong, and we look forward to continued success moving forward.”
Continuing a trend that started in February, for the third consecutive month, Greektown Casino-Hotel increased its market share, from 25 percent in March to 25.7 percent in April. From January, where the property had 22.8 percent share, the net increase is 2.9 percent, an increase of 13 percent, announced Greektown officials.
“Despite being at a competitive disadvantage due to the Final Four and a competitor’s offer of cash to any of our customers who showed their CLUB Greektown card, our strategy of providing Detroiters more ways to win, more ways to have fun, and more value for their dollar is resonating in the marketplace. Our hotel is 80 percent full, and we have more than tripled our buffet covers since implementing our strategy,” said Randall A. Fine, Managing Director of The Fine Point Group and Chief Executive Officer of Greektown.
“We are particularly pleased that for the first time since The Fine Point Group became involved in January, our operating income was higher year-over-year – and that’s compared to last year when we were not in bankruptcy,” Fine added. “Moreover, we beat the independently prepared financial plan for the second month in a row by 100 percent. May has started strong, and we look forward to continued success moving forward.”
