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.”
Greektown increases market share for third straight month
May 7, 2009
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