DETROIT, Michigan — The $1 billion sale of Dan Gilbert’s Greektown Casino-Hotel gained final approval on Tuesday by Michigan regulators.
Four members of the Michigan Gaming Control Board voted unanimously in favor of the sale.
The all-cash deal is scheduled to close early Thursday morning.
“This is the final step in the approval process,” Wilmott said. “We’ve already obtained approvals from the city of Detroit and also the Federal Trade Commission.”
Under the deal, Penn National will acquire operations of Greektown Casino-Hotel in downtown Detroit for $300 million and VICI will buy the casino property’s real estate for $700 million.
Source: Detroit Free Press