Greektown Casino In Detroit Has New Potential Owner In Celani

In the search for a potential owner of the Greektown Casino,a person who is familiar with casino gambling in the state of Michigan has emerged as a potential candidate. Tome Celani, who was an original investor in MotorCity Casino, has thrown his name into the ring.

Celani is partnering with Plainfield to create a group that will be bidding on Greektown. The casino is being offered to potential buyers in bankruptcy hearings, and Celani jumped at the opportunity.

"I understand the property very well...I've been in the casino business for twenty years,' said Celani, "gaming is what we enjoy. I'd love to do it in my hometown."

This is not the first time that Celani has tried to buy into Greektown. Previously he attempted to buy a twenty five percent share of the casino back in early 2008, but pulled out of those negotiations when he felt the price was too high.

Greektown is upside down financially and owes millions of dollars to creditors. They have been searching for a buyer, and as of now there are possibly up to four potential owners who may put bids in for the casino.

The casino itself has not been the problem for the current owners. It makes over $300 million annually in revenue, so a new owner could come in to a lucrative situation.

March 28, 2009
Posted By April Gardner
Staff Editor, CasinoGamblingWeb.com
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