The Sault Ste. Marie Tribe of Chippewa Indians announced that it has filed for Chapter 11 bankruptcy protection for its commercial casino in Detroit, Michigan.
The tribe has a majority stake in Greektown Casino, one of three gaming facilities in the city. The tribe was facing state deadlines to improve its financial standing.
The tribe says the casino is not broke but that it needs $140 million in financing to complete work on a permanent casino.
Get the Story:
Greektown Casino falls into Chapter 11
(The Detroit Free Press 5/30)
Unpaid bills delay casino's expansion (The Detroit Free Press 5/30)
Openings and Closings
Sault Tribe's Detroit casino declares bankruptcy
Friday, May 30, 2008
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