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Detroit casino business continues to boom

Wednesday, Aug. 18, 1999 | 11:45 a.m.

THE ASSOCIATED PRESS

DETROIT -- MGM Grand Inc.'s new Detroit casino is continuing to draw big crowds, the Detroit News reported today.

Though the Las Vegas-based casino company wouldn't provide visitor counts, the newspaper quoted MGM Grand executive Jim Murren as saying, "We were jamming this weekend. It was our best weekend in terms of sheer volume of visitors."

The newspaper also said Casino Windsor, across the Detroit River in Ontario, Canada, is still attracting a large number of gamblers from Michigan. That's good news to investors in the other two Detroit casinos still to open because it indicates the market is still vibrant.

BancBoston Robertson Stephens analyst Harry Curtis told the newspaper he thinks the MGM Grand casino will generate more than $746,000 of gaming win per day for the remainder of the third quarter.

MGM Grand stock was quoted at $48.8125, down 50 cents a share, in late morning trading today.

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