Greektown Casino Financing Plan Given the Go Ahead

A $200-million financing package has been approved by the The Michigan Gaming Control Board (MGCB) in order to begin development on Greektown Casino's permanent hotel-casino resort. Construction of this casino resort, which will be situated in Greektown, the most popular entertainment area in Detroit, will begin in February 2006. The casino will have a 400-room hotel, as well as a spa, theater and convention area.

The Gaming Control Board rejected Greektown's financing proposal in September . Board members were concerned that the casino would shift debts around, instead of getting rid of them all together.

Aaron Payment, chairperson of the Sault Ste. Marie Tribe of Chippewa Indians, said: "The permanent Greektown Casino resort will attract thousands of visitors to Detroit every day, create more jobs and generate more economic benefits for our Tribe, the City of Detroit, and the state." The Greektown casino currently has 2,400 slot machines and over a hundred table games. The casino leads in technology that improves its services, and has been voted Michigan's "Best Casino."

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