MotorCity Casino News - Page 7

News Brief: MGM Grand Detroit Casino L.L.C. and Greektown Casino L.L.C. reported revenue increases for July, while MotorCity Casino L.L.C. revenue was 4 percent behind 2004 for July and nearly 1 percent off the year to date.

Detroit businesswoman Marian Ilitch has finalized the purchase of MotorCity Casino, making her sole owner.

The Michigan Gaming Control Board has unanimously approved the transfer of Mandalay's indirect 53.53% ownership interest in the MotorCity Casino to an affiliate of Marian Ilitch.

MGM MIRAGE and Mandalay Resort Group report that they have entered into a definitive agreement with an affiliate of Marian Ilitch to sell Mandalay's indirect 53.53% interest in the MotorCity Casino to Mrs. Ilitch's affiliate.

News Brief” A last-minute bid by Peter Karmanos Jr. and another Detroit businessman for a controlling interest in MotorCity Casino is unlikely to derail Marian Ilitch from winning, officials said late Tuesday.

Two of the city's three casinos saw revenue fall last month, but the local industry still brought in slightly more cash than last year, thanks to a good month at MGM Grand Detroit.

News Brief: The Michigan Gaming Control Board still hasn't received an application to transfer ownership in either MGM Grand casino or MotorCity Casino, but one is expected by week's end, the board's executive director said Monday.

News Brief: The Michigan Gaming Control Board will likely consider the sale of either MotorCity Casino or MGM Grand Detroit Casino at its March 8 meeting, the board's executive director said Thursday.

MGM Mirage could decide this week whether to accept an offer to buy a controlling stake in MotorCity Casino, a spokesman for the buyer said Tuesday.

News Brief: The soon-to-be-merged gaming giants MGM Mirage and Mandalay Resort Group says it has received about a half dozen offers for one of its two area casinos and expects to sell one before the end of the first quarter.

News Brief: Detroit's three casinos raked in more than $1.18 billion in 2004, a 5.2-percent increase, with both MGM Grand Detroit and MotorCity increasing revenues while Greektown lost some ground.

News Brief: Health officials insist there's no cause for widespread worry, but many gamblers aren't taking any chances after the confirmation of a case of tuberculosis at MotorCity Casino.

News Brief: MGM Mirage Inc. plans to sell MotorCity Casino as soon as its $7.9 billion purchase of MotorCity Casino’s current owner Mandalay Resort Group Inc. is finalized early in 2005.

News Brief: It's easier than ever to get a piece of the action, albeit a small one, now that all three of the city's casinos offer slot machines that can be played for a penny.

News Brief: Under a court-approved settlement, MotorCity Casino and Greektown Casino will pay $79 million to the Lac Vieux Desert Band of Lake Superior Chippewa Indians.

ews Brief: Detroit casinos collected more than $101 million in revenue for February, with the $3.5 million average daily revenue their best ever.

The Greektown, MGM Grand and MotorCity casinos are considering petitioning for a November 2004 vote on plans to allow slot machines at horse tracks.

Attorney General Mike Cox announced today that his office has issued felony charges against a Detroit man involved in a scheme to bilk more than $1,000,000 from the MotorCity Casino in Detroit.