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Howard Stutz
 

Caesars Entertainment partner Rock Gaming licensed to take over Detroit

11 April 2013

LAS VEGAS -- The partner of Caesars Entertainment Inc. in two Ohio casinos and a planned project in downtown Baltimore soon will own a gaming hall in their hometown of Detroit.

Rock Gaming, which is controlled by Detroit businessman Dan Gilbert, won approval this week from Michigan gaming regulators to take over ownership of the Greektown Casino. Rock Gaming is expected to take over ownership of the property, one of three downtown Detroit casinos, by the end of the week.

Gilbert, the founder of Quicken Loans and owner of the NBA’s Cleveland Cavaliers, owns 17 downtown Detroit buildings. He told the Detroit Free Press that Greektown will be key to his overall vision for a revitalized downtown Detroit with more amenities for visitors and residents.

“Gaming in our view is a downtown activity and a development magnet,” Gilbert said. ”We don’t look at it as a bunker where we want to keep people in all day long. We’re looking for two-way traffic. We want to push people out to businesses and also attract them into the casino.”

Rock Gaming is the majority owner of the Horseshoe Casino Cleveland, which opened last May, and the recently opened Horseshoe Casino Cincinnati. Caesars Entertainment is the minority owner of the two casinos, but also receives managing fees for operating the properties.

Rock Gaming and Caesars are developing the Horseshoe Casino Baltimore, which is expected to break ground this year.
Caesars Entertainment partner Rock Gaming licensed to take over Detroit is republished from Online.CasinoCity.com.