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The Chip Board Archive 17

Detroit update - long post

The Michigan legislature & governor have still not reached agreement on a state budget. The state is heading for a shutodwn on OCtober 1.

The MGCB voted today to shut down the casinos. From detnews.com : "The Michigan Gaming Control Board voted unanimously this afternoon to close Detroit's three casinos within 24 hours of an announcement of a state government shutdown.

"Board members said they were reluctant to take the action, but the casinos require state regulators and monitors to be present during gaming operations. Members said although they were hopeful the state budget issue will be resolved -- and prevent a shutdown -- their hands were tied and they had to be prepared for the worst-case scenario.

"Attorneys for MGM Grand Detroit, MotorCity and Greektown were present at the meeting. They said they opposed the board's decision and would study the issue further to see what action to take."

My commentary: They better act quickly!!! An appeal would be taken to the Michigan Court of Appeals and ultimately to the state Supreme Court. Both courts are non-essential services that would likely be shut down as well.

The governor is expected to address the state on TV this evening to outline the shutdown.

MGM GRAND GRAND OPENING:
If MGM has its grand opening as scheduled, that schedule has firmed up a bit. There have been conflicting opening dates in advertisements (Oct. 2 & 3). An invitation-only VIP gala occurs October 2 in the evening. The official ribbon cutting is at 10:00 PM in an outdoor ceremony. The official opening time for mere mortals is 11:59 PM on Oct. 2, which leads to October 3 as the practical grand opening date. It is expected the casino will welcome ordinary visitors indoors after the ribbon cutting ceremonies, which could terminated before 11:59 PM on Oct. 2.

If the state shuts down, I suppose MGM could still have its outdoor ceremony at 10 PM, but no gaming could take place.

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Detroit update - long post
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