by Ray Poirier | Detroit’s three casino operators are mandated by law to build permanent gambling facilities to replace the temporary properties that they have been operating.
MGM MIRAGE Inc. (MGM) was the first to comply, building an $800 million hotel/casino that is now operating in full force.
The private operators that bought the second casino from MGM MIRAGE are constructing their new facility but Greektown Casino, majority owned by the Sault Ste. Marie Tribe of Chippewa Indians, has failed to start on a new project. They cited money woes as the reason.
That seems to be changing, however, since a group of Detroit businessmen, Entertainment Interests Group LLC, has signed an agreement to pour $100 million into the struggling gambling operation.