"Our grand opening is set for Nov. 10, pending final approval of our license," said Roger Martin, a spokesman for the casino. The MGCB will decide on the license in November, before the opening date. Martin said everyone believes the license will be given.
The investors are showing off their temporary facility. All three casinos that have built in Downtown Detroit, the MGM Grand Detroit and the MotorCity Casino and the Greektown, are considered temporary facilities. Both of the other casinos are open and operating.All three are planning to build larger facilities, complete with five-star hotels and restaurants, along the riverfront at a cost of more than $1.5 billion. However, the city is still locked in litigation to acquire and condemn property along the proposed sites.
The MGCB formerly allowed two families to sell their off the casino shares.Ted and Maria Gatzaros and Jim and Viola Papas sold their 40 percent interest in Greektown Casino LLC to the Sault Ste. Marie Tribe of Chippewa Indians for $275 million.
The two families had been among the first to fight for casino gaming in Detroit. However, investigators with the board found problems in their financial backgrounds. The tribe now own 90 percent of the casino. The other 10 percent is owned by eight minority Detroit residents.
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