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Hollywood Casino at Greektown, formerly Greektown Casino-Hotel, is a casino hotel in the Greektown neighborhood in Detroit, Michigan. It is owned by Vici Properties and operated by Penn Entertainment. The casino opened in 2000, under the majority ownership of the Sault Ste. Marie Tribe of Chippewa Indians. It was the only casino in Detroit ...
It was one of three casinos authorized by the legislature in 1996 for operation in Detroit as a means for the city to generate revenues. This casino did not operate under the Kewadin name. [5] Due to financial problems related to the 2008 Great Recession, the tribe filed for bankruptcy protection for the Greektown casino. In 2010 it sold its ...
Vici bought the real estate of the Margaritaville Resort Casino in Louisiana and Greektown Casino–Hotel in Detroit for $261 million and $700 million, respectively, while Penn bought both properties' operating businesses and leased them from Vici for annual rent of $23 million and $56 million, respectively.
Dan Gilbert, the founder and chairman of Quicken Loans, agreed to sell Greektown Casino for $1 billion. Greektown was opened in 2000 and contains approximately 2,700 gaming machines and 60 table ...
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By KATE ROGERS Detroit made history Thursday as the largest American city in history to ever file for Chapter 9 bankruptcy protection. The once vibrant city rooted in auto manufacturing and music ...
The tribe formerly operated Detroit's Greektown Casino, where they held a majority interest. They filed for bankruptcy protection in 2008, during the Great Recession . In June 2010 the Michigan Gaming Control Board voted 4–0 at a special meeting to transfer ownership from the Sault Ste. Marie Tribe of Chippewa Indians to new investors. [ 11 ]
DETROIT (AP) - Detroit presented its first full road map for leaving bankruptcy Friday, outlining an elaborate plan to restructure $18 billion in debt, demolish thousands of blighted homes and ...