Regions Midwest | Detroit
Greektown Bankruptcy Won't Stop Expansion
June 12, 2008

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. Now, as per the Detroit Free Press, the financially troubled property's owner, Greektown Casino L.L.C., has gotten the go-ahead from the U.S. Bankruptcy Court to access $51.3 million in financing to move forward with an expansion project. Construction is underway on the expansion of the property's hotel and casino. The project encompasses a 400-room hotel and the increasing of the gaming area by 25,000 square feet.  Another $150 million could be made available by the courts.

 
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