Greektown Casino expansion on schedule

2008-08-14 12:38:29

The expansion of Detroit’s Greektown Casino is on schedule according to the financial consultant for the firm.

Charles Moore told the Michigan Gaming Control Board (MGCB) that the hotel casino resort is on course to meet its deadlines, reports the Detroit News.

Greektown filed for bankruptcy earlier this summer after falling behind on payments for its $332 million development.

Since then, the MGCB required weekly written and monthly oral reports on the progress of the project and the firm's bankruptcy.

Mr Moore commented: "Our purpose is to have a healthy, viable casino … We're well on our way to doing that."

Officials in the company also stated that it was possible that 40 per cent of the casino would be sold to Entertainment Interest Group, which would provide Greektown with approximately $100 million.

The MGCB released figures recently that showed a 13.17 per cent decline in Greektown Casino's revenue in July compared to the same month in 2007.