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May 7, 2008

Soo Tribe finds investors for Detroit casino

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The Sault Ste. Marie Tribe of Chippewa Indians has landed a $100 million investment for its commercial casino in Detroit.

The tribe needed to find new investors or face a state-ordered sale of the Greektown Casino. Revenues at the facility are dropping and the tribe is seeing some money problems amid increased competition from Detroit's two other commercial casinos.

The tribe retains majority ownership of the casino. Entertainment Interests Group has agreed to purchase 40 percent.

Get the Story:
Greektown Casino wins investors (The Detroit News 5/7)

 
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