Greektown increases market share
April 8, 2009
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For
the second consecutive month the embattled Greektown Hotel-Casino increased its market share,
from 23.5 percent in February to 25.0 percent in March
For the second consecutive month Greektown Hotel-Casino increased its market share from 23.5 percent in February to 25.0 percent in March, according to Michigan Gaming Control Board figures released today. From January, where the property had 22.8 percent share, the net increase is 2.2 percent, an increase of almost 10 percent.
“It is a new day at Greektown, and on behalf of every team member at the property, we are thrilled with the response customers have had to our efforts to offer unmatched value through our marketing programs – new promotions, new database efforts, and our $99 hotel rate,” said Randall A. Fine, managing director of The Fine Point Group, the management company that was hired in January to turnaround the property.
Pending regulatory approval, Fine will also become CEO of Greektown.
“But we are not letting up. With a new $9.99 buffet that launches tomorrow, the opportunity for every customer to compete with a real, live chicken every day to win up to $200, and a $50,000 cash promotion for our table games customers, we are going to keep offering our customers new ways to play, new ways to win, and new ways to have fun,” Fine added.
“For all those naysayers out there – and for those considering buying the property – I would note that this market share came while we beat our March profitability plan – which was developed by the financial constituents without any involvement by us – by more than 100%, this after beating it by 30% in January, and 80% in February,” Fine said. “You know you are doing something right when your competitors start coming after you specifically, which we have seen in the past several days. It is much more fun to be the hunted than the hunter, and we welcome the competition, as we hope it will energize the entire market, and improve our customer experience and employee engagement.”
For the second consecutive month Greektown Hotel-Casino increased its market share from 23.5 percent in February to 25.0 percent in March, according to Michigan Gaming Control Board figures released today. From January, where the property had 22.8 percent share, the net increase is 2.2 percent, an increase of almost 10 percent.
“It is a new day at Greektown, and on behalf of every team member at the property, we are thrilled with the response customers have had to our efforts to offer unmatched value through our marketing programs – new promotions, new database efforts, and our $99 hotel rate,” said Randall A. Fine, managing director of The Fine Point Group, the management company that was hired in January to turnaround the property.
Pending regulatory approval, Fine will also become CEO of Greektown.
“But we are not letting up. With a new $9.99 buffet that launches tomorrow, the opportunity for every customer to compete with a real, live chicken every day to win up to $200, and a $50,000 cash promotion for our table games customers, we are going to keep offering our customers new ways to play, new ways to win, and new ways to have fun,” Fine added.
“For all those naysayers out there – and for those considering buying the property – I would note that this market share came while we beat our March profitability plan – which was developed by the financial constituents without any involvement by us – by more than 100%, this after beating it by 30% in January, and 80% in February,” Fine said. “You know you are doing something right when your competitors start coming after you specifically, which we have seen in the past several days. It is much more fun to be the hunted than the hunter, and we welcome the competition, as we hope it will energize the entire market, and improve our customer experience and employee engagement.”
