DETROIT -- Just days after announcing a $100 million cash infusion from a new Metro Detroit investment group, Greektown Casino was told it has until June 10 to come up with a convincing argument why the Michigan Gaming Control Board should not force casino owners to sell the gaming hall.
The board's demands could threaten a deal announced last week by Entertainment Interests Group to invest some much-needed cash into Greektown. The group agreed to buy a 40 percent stake in the casino for $79 million, and invest another $21 million to pay off former minority investors. Sault Tribe of Chippewa would have a 60 percent stake in Greektown.
For the full story, please see Nathan Hurst
Greektown Casino given until June 10 to avoid forced sale, The Detroit News, May 13, 2008.
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