- On 11.30.05, MotorCity Casino broke ground on construction.
- The casino expanded its gambling floor by a third and unveiled 100,000 square feet of updated gaming space to the public on 6.07.07.
- A 400-room luxury hotel addition opened to the public on 11.29.07.
Nevertheless, post construction revenues don't reflect the larger entertainment complex.
On 1.16.09, Moody's downgraded the credit ratings of MotorCity Casino's parent (CCM Merger, Inc.) for the second time in a six week period.
CCM Merger, Inc.. is seeking to amend loan convenants to allow for even higher debt ratios despite telling investors originally that such ratios would be lower after construction was completed. As of 12.31.08, CCM Merger will be in violation of the existing convenant absent this amendment.
Investors are rejecting the idea of amendment convenants and instead have called for the casino's owner, Marian Ilitch to inject more cash into the Casino.
Crain's Detroit Business has reported that Ilitch was already forced to inject $25 million into the casino in September 2008 in order to avoid being in violation of loan covenants at the end of the 3rd Quarter.