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Gaming Board lets Greektown continue bankruptcy plan

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June 10, 2008

DETROIT - Michigan's Gaming Control Board voted Tuesday not to force a sale of Greektown and to allow the casino to continue its bankruptcy plan.

Greektown filed for Chapter 11 bankruptcy protection last month to allow more time for reorganizing finances and improving operations. At the same time its $500-million expansion project is proceeding towards completion in early 2009. The expansion includes a 400-room hotel.

A spokesman said Greektown has been given time to reorganize and improve or face the potential of a forced sale of the property.

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