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Bill Radke: Speaking of the Bank of England’s gamble, casinos in Las Vegas and Atlantic City have seen their profits slide for months. But today, we’re hearing some casinos in the Midwest are on a lucky streak. February profits are up at Detroit casinos and at most casinos in Missouri. Ashley Milne-Tyte explores why.
Ashley Milne-Tyte: All but one of Missouri’s casinos raked in more profits this February than last. In Detroit, casino revenues had been dropping each month since November, then swung up suddenly last month.
Christopher Baum of the Detroit Metro Convention and Visitors Bureau says the economy may be dire, but it doesn’t stop people from playing.
Well I think people who enjoy gambling always feel that they’re about to hit it big and that’ll solve their problems, so if people have a passion for something, they’re still gonna partake. They may cut back on dining out or other things that they might normally do, so they still have the funds available to do the things they really enjoy.
He says casinos in cities like Detroit are benefiting from the drop in business in Vegas and Atlantic City’s. Baum says people can’t afford the air fare to travel to those destination spots, but for many in the Midwest, Detroit is just a drive away. The city is hoping for more gamblers when it hosts next month’s final four college basketball championship.
I’m Ashley Milne-Tyte for Marketplace.
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