From Freep (H/T Pechanga):
Penn National Gaming, Inc., a well-capitalized casino owner, has submitted a bid to purchase Greektown Casino in downtown Detroit.
Timothy J. Wilmott, president and chief operating officer of the Pennslyvania-based company, said Penn National likes the Detroit market. The company also has looked at buying assets from MGM Mirage, including the company’s MGM Grand Detroit property.
Penn National is the second bidder to confirm its interest in buying the casino that filed Chapter 11 bankruptcy about a year ago. Bloomfield Hills businessman Tom Celani also has bid on Greektown.
Greektown is actively marketing the property through the bankruptcy process. By June 1, the casino’s estate must choose one of two paths — reorganization under its current owner, the Sault Tribe of Chippewa Indians, or a sale to a new owner.
You must be logged in to post a comment.