Cleveland Cavaliers’ owner Dan Gilbert believes that Detroit declaring bankruptcy will be “good news.” He is a major owner and developer of downtown Detroit real estate, as well as being a major player in the gaming field as the owner of Greektown Casino in Detroit and a pair of casinos in Ohio.
Gilbert, founder and chairman of Quicken Loans, describes Detroit bankruptcy as a “tsunami we all think is going to come” and feels that the “faster we get there, the better.”
Currently, the city is under the control of an emergency manager who is asking Detroit creditors to take about 10 cents on every dollar owed to them. Negotiations could last several weeks, officials say.
Ray Poirier is the longtime executive editor at GamingToday.
Contact Ray at RayPoirier@GamingToday.com.
Penn National Gaming Inc. (PENN) fought a gallant battle to keep its Sioux City, Iowa, riverboat operating but in the end it was all for naught. The Iowa Supreme Court has ruled that the casino must close as of Wednesday of this week.
A Maryland casino is looking to hire some of the soon-to-be-jobless Atlantic City casino workers. Maryland Live! is holding job fairs next week at the Sheraton hotel across from the Atlantic City Convention Center.
Louisiana’s 21 casinos took in $203.5 million statewide in June, edging up one-half of a percentage point from a year earlier. State gambling revenues totaled $202.4 million in June 2013.
Giants made the deal with Boston for right-hander Jake Peavy with one thing in mind – beating the Dodgers. Peavy is having a horrible season at 1-9, but lifetime against LA is an incredible 14-2 with a 2.21 ERA.
Nevada officials say casino revenues shot up more than 14 percent in June thanks to a banner month on the Las Vegas Strip. The state Gaming Control Board reported that Nevada casinos brought in about $907 million in June.
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