Detroit now in limbo

September 17, 2002 8:57 AM
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The on again, off again situation in Detroit has taken another turn with the Lac Vieux tribe possibly willing to settle with the city.

The tribe won a Court of Appeals victory earlier last week halting Detroit’s planned constructions of permanent casinos with hotels.

The three-judge panel said they were granting the tribe’s request for an injunction because the group was likely to win its appeal of a lower court ruling.

Now, the tribe may be ready to settle.

"Anything is possible," Lac Vieux tribe attorney Conly Schulte told the Detroit Free Press. "We haven’t foreclosed that."

Nelson Rose, a law professor at Whittier Law School in California, said the tribe should be encouraged, but should also consider compromise.

"Even if the (MGM Grand, MotorCity, Greektown) casinos are rebid, there is no guarantee the tribe will win a license," Rose said.

Monticello sale

Monticello (N.Y.) Raceway is up for sale, which could bring bidding in the billions of dollars.

"We are in the process of hiring an investment banker to sell the entire raceway for the best possible price," said Joe Bernstein of Catskill Development, which owns the 165-acre track where harness racing legend Niatross once ran.

Park Place Entertainment is paying $65 million to Kutsher’s to build a St. Regis Mohawk casino at the sports academy not far from the famed harness track.

The raceway has already won federal approval for the environmental par of a casino application. It is also eligible for 10 years of state tax breaks.

AC earnings rise

The New Jersey Casino Control Commission announced last week that August gaming revenue increased 0.9 percent to $427.2 million.

Slot machines took in $318.4 million in revenue, a 4.9 percent rise from August 2001. Table games were down 9.2 percent to $108.8 million over the same period.