Has Marian Ilitch's expansion of MotorCity Casino's gaming floor and her addition of a 400-room hotel feature gone over budget by $25 million?
The expansion and rennovation was originally billed as a $275 million project but recently the Detroit Free Press has been reporting that the costs have risen to $300 million; that's a $25 million increase (or almost 10% over budget).
The expansion and rennovation was originally billed as a $275 million project but recently the Detroit Free Press has been reporting that the costs have risen to $300 million; that's a $25 million increase (or almost 10% over budget).
"Workers raced Monday to polish off the final details on the massive new $300-million MotorCity Casino Hotel complex in preparation for Wednesday's grand opening."Given that the opening of the expanded gaming floor in June was followed by just a two-month bump in increased revenues; and given that October's revenues for MotorCity Casino were only 1% greater than in Oct. 2006; and and given October's revenues were comparable to pre-expansion opening figures (May 2007); one must question how MotorCity Casino can sustain a $25 million construction overage.
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