Michigan gaming regulators today allowed Greektown Casino to continue executing a business reorganization plan aimed at improving the financial health of the casino during Chapter 11 bankruptcy protection.
The Michigan Gaming Control Board (MGCB) voted not to force a sale of Greektown Casino at this time.
Instead, the regulators voted to give the casino time to reorganize and improve operations during Chapter 11 or face the potential of having to sell the property at some point in the future.
Casino representatives pledged their full cooperation with the MGCB, including providing more frequent and detailed financial and operational reports to the regulators and their staff.
For the complete story, please see Gaming board won't force Greektown sale. At this time, SooToday.com, June 10, 2008.
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