Ilitch already owns 25% of MotorCity Casino. The terms of the possible Ilitch deal were revealed in a lawsuit filed this week in Oakland County Circuit Court by MotorCity's minority owners, who say Ilitch's purchase would violate the terms of their partnership.
MGM Mirage is being required to sell its interest in a Detroit casino as a result of its purchase of fellow gaming company Mandalay Resort Group. MGM and Mandalay each control one local casino. State law does not allow one company or person to have an interest in more than one Detroit casino.
MGM's Alan Feldman says the company will make an announcement when it has a definitive agreement. Marian Ilitch and her husband, Mike, co-founded Ilitch Holdings Inc., which owns Little Caesar Enterprises Inc., the Detroit Tigers, the Detroit Red Wings, the Fox Theatre and several other companies. Mike Ilitch is not involved in the casino operations.
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