Revenues at Ilitch owned MotorCity Casino fall 9.46% in September; down $8 million this year.

According to the Michigan Gaming Control Board (MGCB) , MotorCity Casino's revenues for September were down 9.46% as compared to the gambling hall's September 2007 revenues.

For the 12 month period ending September 30, MotorCity Casino's revenues are down nearly $12.8 million (2.63%) as compared to the previous 12 months. Revenues have fallen 9 out of the last 12 months as compared to the same months the previous year.

The Ilitch-owned property opened its expanded gambling hall in June 2007 and a 400-room hotel in November 2007.

The casino/hotel owner Marian Ilitch borrowed nearly $1 billion to acquire, expand, and finance MotorCity Casino.

Both Moody's and Standard & Poor's have been forced to downgrade MotorCity Casino's credit ratings since Ilitch acquired 100% control of the enterprise. Most recently on 9.29.08, Standard & Poor's changed its ratings outlook on CCM Merger, Inc. from stable to negative.

MotorCity Casino is a d/b/a for Detroit Entertainment LLC. CCM Merger, Inc. is the parent of Detroit Entertainment LLC.