Indian Gaming > Soo Tribe pressed to keep Detroit casino afloat

May 14, 2008

Soo Tribe pressed to keep Detroit casino afloat

The Sault Ste. Marie Tribe of Chippewa Indians is facing pressure to make sure its commercial casino in Detroit complies with state law.

The tribe has fallen behind on construction of a permanent Greektown Casino. Revenues have dropped and the facility's debt-to-earnings ratio isn't meeting state requirements.

In hopes of resolving the issue, the tribe last week announced that it landed a $100 million investment. The tribe would retain 60 percent ownership of the casino.

But the Michigan Gaming Control Board is questioning whether the deal will resolve the tribe's financial concerns. The board gave the tribe until June 10 to defend its future.

Get the Story:
Greektown Casino financing questioned (The Detroit News 5/14)