State wants casino to show why it shouldn’t force sale
Posted on May 14th, 2008 by sara under Casino NewsDETROIT (AP)– The Michigan Gaming Control Board says Detroit’s Greektown Casino has less than a month to show why the state shouldn’t force the sale of the cash-strapped casino.
The board on Tuesday set the deadline for Greektown Casino, which hasn’t met state-mandated financial goals.
The Detroit Free Press and The Detroit News report it’s unclear whether a deal announced last week to sell a 40 percent stake in the casino will go through swiftly.
The casino says that deal will help fix its problems. Entertainment Interests Group LLC of Bloomfield Hills signed a purchase agreement to invest $100 million in the struggling gambling operation.
The Sault Ste. Marie Tribe of Chippewa Indians is the majority owner of Greektown Holdings LLC.





Recent Comments