Monday, April 27, 2009

Detroit casino to benefit from Obama stimulus package



According to blogger Brian Darling at HumanEvents.com; the Obama stimulus package includes:
"$1.5 million to improve the parking garages and roads surrounding the Greektown Casino development in Detroit."
Detroit's Greektown Casino filed for Chapter 11 bankruptcy protection back in May. Greektown Casino, one of three commercially operated casinos in Detroit, is owned primarily by the Sault Ste. Marie Tribe of Chippewa Indians.

Tom Celani, a former founding partner in Detroit's MotorCity Casino along with Marian Ilitch and Michael J. Malik, Sr., tried to buy controlling interest in Greektown Casino back in January, according to a story published in the Detroit News, but that transaction was never consumated.


But now, according to BackRoomNews.com:
"Tom Celani, a Bloomfield Hills businessman and investor, is trying to buy Greektown Casino in downtown Detroit.

Celani, who was an initial investor in Motor City Casino, has partnered with a Connecticut-based hedge fund called Plainfield to bid for Greektown, which is being marketed to buyers through bankruptcy proceedings.

Celani says he expects he is among up to four bidders interested in the casino, which generates $300 million a year in annual revenue. Celani would not disclose the amount of his bid.

'I understand the property very well … I’ve been in the casino business for 20 years. Gaming is what we enjoy,' Celani said. 'I’d love to do it in my hometown.' "

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certainly must reads!

Ilitch has backed loosing sports teams and pizza, but casinos in Detroit? Forbes.com 10.09.06 ● Marian Ilitch #1 on "25 Most Powerful People" to Watch 2006” global gaming business o1.oo.o5 ● My Kingdom for a Casino Forbes 05.08.06 ● Big Lagoon’s casino dream awakens north coast journal 07.28.05 ● Shinnecocks launch legal claim to Hamptons land newsday.com 06.16.05 ● Ilitch Plans to Expand Casino Empire RGTonline.com 07.05.05 ● Ilitch outbids partners MichiganDaily.com 04.14.05 ● Ilitch enmeshed in NY casino dispute detnews.com 03.20.05 ● Marian Ilitch, high roller freep.com 03.20.05 ● MGM Mirage to Decide on Offer for Casino in Detroit rgtonline.com 04.16.05 ● Secret deal for MotorCity alleged freep.com 02.15.05 ● Los Coyotes get new developer desertdispatch.com 02.08.05 Detroit casino figure to finance Barstow project LasVegasSun.com 07.07.03 ● Indian Band trying to put casino in Barstow signonSanDiego.com 06.04.03 Pizza matriarch takes on casino roles detnews.com 10.23.02 ● Vanderbilt gets short straw in negotiations for a casino Lansing Journal 10.06.02 ● Indians aim to drive family from tribe in vicious dispute san diego union tribune 04.09.00 ●Malik owns 2000 Michigan Quarter Horse of the Year Michigan.gov 01.01.00 ● Detroit Team to run Michigan’s newest Indian casino detnews.com 05.23.99 Tiger ties tangle Marian Ilitch detnews.com 04.29.99 ● Three investors must sell their Detroit casino interests gamblingmagazine.com 04.25.99 ● Partners’ cash revived election; They say money was crucial to Prop-E detnews.com 04.25.99 Investors have troubled histories las vegas review journal 04.27.99 ● Investor served probation for domestic assault on 12 year old boy detnews.com 04.25.99 Can a pair win a jackpot?: local men hope to... crainsdetroit.com 03.17.97

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