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Greektown seeks new owner9 October 2008DETROIT, Michigan -- As reported by The Free Press: "Greektown Casino has hired an investment bank to seek buyers for the casino, which a consultant said is the preferred option for the casino's exit from Chapter 11. "Greektown CEO Craig Ghelfi also announced his retirement Wednesday at the state Gaming Control Board's monthly meeting, and a restructuring of the casino's management board is under way. "After missing financial targets for the last two months, Greektown Casino said it will attempt to open 200 hotel rooms in January, weeks earlier than the targeted date of Feb. 12 for opening the full 400-room hotel. "...U.S. Bankruptcy Court Judge Walter Shapero was expected to file an order Wednesday appointing investment bank Moelis & Co. to seek financing and potential buyers for Greektown. "...Greektown revenues slipped 4.15% to $25.2 million this September, from $27.3 million in September 2007. |