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Michigan Gambling News Brief
Greektown Casino loan is OK'd in full
Detroit Free Press,
Wednesday, July 2, 2008 at 1:12:44 PM
The Michigan Gaming Control Board today approved the remainder of a $150-million loan that Greektown Casino needs to finish construction of its hotel and expanded casino while in bankruptcy protection.
The total loan approved by both U.S. Bankruptcy Court Judge Walter Shapero and the Gaming Control Board totals $150 million and has been disbursed in two parts.
The Gaming Control Board and the U.S. Bankruptcy Court had approved a $51.3-million loan earlier this month to pay past-due construction bills and allow the construction project to continue.
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