Cleveland Cavaliers owner Dan Gilbert invests in Detroit casino
Rock Gaming owns Cleveland and Cincinnati casinos
Jen Steer, newsnet5.com
4:46 PM, Jan 16, 2013
CLEVELAND - Cleveland Cavaliers owner and Midwest casino mogul Dan Gilbert is investing in another gambling operation, this time without Caesars Entertainment.
An affiliate company of Gilbert's Rock Gaming, Athens Acquisition LLC, now has a majority interest in Greektown Superholdings Inc. That's the owner of the Greektown Casino and Hotel in downtown Detroit.
"Our plans are in the early phases, however, we envision significant investment in the Greektown Casino-Hotel, as well as the enhancement and growth of the existing entertainment district. We see this unique area extending to Campus Martius and along Woodward Avenue building on the positive momentum already occurring in the heart of downtown Detroit," Gilbert said in a news release on Wednesday.
"With a substantial focus on downtown Detroit, the Greektown opportunity could not be more in the epicenter of our business and civic interests," said Rock Ventures LLC CEO, Matt Cullen.
Rock Gaming partnered with Caesars Entertainment to create the Horseshoe Casino Cleveland, the state's first casino. The group's Horseshoe Casino Cincinnati is set to open in March with the Thistledown racino opening this spring.