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Gilbert Gobbles Greektown: Majority of Casino Shares Acquired

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Retail, Rail, Residential...Roulette? Apparently we have a fourth 'R' for 2013, as only weeks after we discovered Dan Gilbert on a mission to buy 1001 Woodward, Detroit's high-rise hoarder is taking aim at a much more glittery structure: Greektown Casino. Gilbert's Athens Acquisition bought the majority of shares in the casino in December, but now they've offered to buy out the remaining shares to become the sole owner. Whether that happens is yet to be seen, but it's clear that Gilbert's Detroit 2.0 ambitions are spilling out of the Woodward/Webward Corridor. He's said that his desire is to better connect Greektown with Campus Martius and Woodward (or "meld the boundaries," as a spokeswoman said), so we'll be keeping an eye on the real estate caught in the middle. Gilbert is known in Ohio for his "High-style, upscale casinos that feed on the character of the city." Is Greektown in for a sleek, new remod?
· Dan Gilbert-owned company to acquire controlling interest in Greektown Casino [Freep]
· Dan Gilbert company acquires majority interest in Greektown Casino, offers to buy remaining shares [Crain's]

Greektown Casino & Hotel

555 E Lafayette Blvd, Detroit, MI 48226