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July 31, 2009

Soo Tribe's commercial casino has $755M debt

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The commercial casino that is majority owned by the Sault Ste. Marie Tribe of Chippewa Indians of Michigan is more than $755 million in debt.

The Greektown Casino in Detroit entered bankruptcy proceedings last year. So far, all of the exit plans that have been submitted would relieve the tribe of its ownership in the facility.

The latest offer comes from businessman Tom Celani, who said he will bid $450 million for the casino.

Get the Story:
Businessman to bid $450M for Greektown Casino (The Detroit News 7/31)

 
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