Loading…
Sunday, December 28, 2014
Current Weather
Loading Current Weather....
Published: Tuesday, 3/19/2013

Greektown Casino-Hotel acquisition moves closer

Company involving Cavaliers owner moves toward purchase

ASSOCIATED PRESS
The Greektown Casino in Detroit The Greektown Casino in Detroit
ASSOCIATED PRESS Enlarge

DETROIT  — A company involving Cleveland Cavaliers owner Dan Gilbert is moving closer to acquiring Detroit's Greektown Casino-Hotel.

Greektown Superholdings Inc., the casino's owner, announced Tuesday that an agreement had been reached about the potential deal.

Gilbert has said a “significant investment” is planned in and around Greektown Casino-Hotel.

Rock Gaming's Athens Acquisition LLC entity is involved in the potential deal. Gilbert is chairman of Rock Gaming and founded Detroit-based Quicken Loans. Rock Gaming was formed in 2010 and partnered to develop Horseshoe Casino Cleveland and Horseshoe Casino Cincinnati.

The acquisition would be subject to approval from the Michigan Gaming Control Board.

Gilbert's Rock Ventures LLC has bought up a number of downtown Detroit buildings. On Tuesday, it announced it had acquired the 23-story 1001 Woodward the office tower.



Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.

Related stories









Poll