Economic Crisis and Impact on Michigan Indian Casinos

From TV:

(10/15/08)–Wednesday brought more trouble on Wall Street as the Dow closed down more than 700 points.

Economic disappointments like this not only have investors worried, but also have people all over the nation cutting expenses.

That includes entertainment. Casinos in Las Vegas and Atlantic City are reporting big drops in revenue. But how are Mid-Michigan’s casino’s doing?

The Saganing Eagles Landing Casino near Standish was packed today and that has pretty much been the pattern ever since it opened on New Year’s Day.

“It’s almost 1 p.m. and we are at capacity,” said the Saginaw Chippewa Indian Tribe’s Frank Cloutier.

Wednesday was Senior Day at the Saganing Eagles Landing Casino south of Standish, and there were no signs of a sluggish economy here.

“Somebody’s got money,” said Connie Schoonover of Arenac County.

But Cloutier says while people are filling the building, they might not be betting as much as they once did.

“Everyone is down in business a little bit because people are not visiting as often because they have to watch every penny like we do,” Cloutier said.

“Instead of coming once a week, they are coming once a month.”

Same goes for the Soaring Eagle Casino and Resort in Mount Pleasant.

Despite the slowdown, that’s not stopping the casino in Arenac County from expanding and opening up another 132 slot machines for patrons Friday morning.

“I don’t know if they are hurting any more or any less, but this is new,” Cloutier said. “The honeymoon is still ongoing.”

“The gas prices are probably bringing in a lot more people in because they have a lot more money to spend in the casino instead of putting in their gas tank,” said Brenda Muckenthaler of Twining.

“I live at the marina and I go by here every day and this place is always packed,” Schoonover said.

But both of these casino goers visit with these simple rules during these tough economic times.

“Just take a few day dollars and don’t go breaking the bank on it,” Muckenthaler said.

“But it can be a problem, too, if you don’t know when to quit,” Schoonover said.

A side note: There’s a Subway sandwich shop inside the casino, and Cloutier says it’s the best-producing restaurant for Subway in the entire state.