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Detroit casinos hit jackpot

January 14, 2004

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The Detroit Free Press is reporting in Thursday’s (Jan. 15) newspaper that the three casinos in downtown Detroit brought in approximately $1.13 billion in 2003, bringing the five-year total since they opened to an “eye-popping” $4.2 billion. Meanwhile, the state’s seven racetracks continue to suffer declines of 30 percent or more.

The casino numbers are even more amazing considering that the three sites are actually only “temporary” buildings, with permanent structures not opening until 2006 at the earliest.

Total horse racing handle in the state was nearly $500 million in 1998, the year before the casinos opened. Each subsequent year has shown a decline in revenue, with last year’s number dropping to approximately $339.4 million.
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