The Sault Ste. Marie Tribe of Chippewa Indians is trying to find a buyer for the troubled Greektown Casino in Detroit, Michigan. The tribe owns a majority stake in the commercial facility, which is reorganizing in federal bankruptcy court. A sale is to take place by February 16, though the city is pressing for an earlier date. Greektown is the last of Detroit's three casinos to put up a complete a required 400-room resort hotel, The Detroit News reported. The paper said a minority owner is interested in buying the casino, which has missed revenue projections and missed loan covenants as part of the bankruptcy proceedings. Get the Story:
Greektown Casino seeks buyer; CEO retires (The Detroit Free Press 10/9)
Detroit pushing Greektown to sell (The Detroit News 10/9)