Detroit is about to get three gambling casinos. The casinos are being held up as the savior of the city. There is great excitement about the coming of the casinos--the three of them, according to projections, will generate gross annual revenues of $1.2 billion--and in a city that has often been on the ropes, that means something.

Actually, it would mean something for just about any city. That's why casinos are becoming so ubiquitous in this country. According to statistics provided by the gambling industry's lobbying group, 26 states now allow some form of casino gambling, and at last count there were 950 casinos in operation in the United States. During the last full year for which figures are available, casinos brought in $25 billion in total revenues.

And now, Detroit. As recently as 1995, Michigan state law did not permit casino gambling, but because of a push by gambling interests in Detroit a gambling initiative was put on the ballot, and prevailed. Two months ago Detroit Mayor Dennis Archer announced his selection of the three companies that will be allowed to open casinos.