Wednesday, Jul 27, 2016
One of America's Great Newspapers ~ Toledo, Ohio

Business

Greektown Casino-Hotel acquisition moves closer

Company involving Cavaliers owner moves toward purchase

AP-TRAVEL-TRIP-SUPER-BOWL

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.

Click to comment

Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem?

Temporibus autem quibusdam et aut officiis debitis aut rerum necessitatibus saepe eveniet.

Copyright © 2015 Toledo Blade

To Top

Fetching stories…