Regions Midwest | Detroit
Greektown to Get New Co-Owner in $100M Deal
May 6, 2008

The Sault Ste. Marie Tribe of Chippewa Indians has agreed to sell a sizeable stake in its Greektown Casino in Detroit to Entertainment Interests Group L.L.C. for $100 million. The two parties recently executed a purchase agreement that would leave EIG with a 40 percent ownership interest in the eight-year-old gaming property, which is currently undergoing an expansion with the development of a 400-room hotel and the addition of 25,000 square feet to its casino. The Michigan Gaming Control Board has to sign off on deal before the sale can move forward.

 
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A month ago, the Sault Ste. Marie Tribe of Chippewa Indians agreed to sell a sizeable stake in its Greektown Casino in Detroit, Mich., to Entertainment Interests Group L.L.C. for $100 million.