HomePublicationsNewsletter ArchiveVolume 25Issue 12SALE OF JACK GREEKTOWN CASINO MAY CLOSE BY END OF MAY

During the Penn National earnings call yesterday, CEO Timothy Wilmott provided an update on the company’s merger and acquisitions activity.  He said: “We are working with the Michigan regulators and pending their approval, we expect to close on our $300 million purchase of the Greektown operating assets in Detroit by the end of May in partnership with VICI as our landlord.

Similarly, during the VICI earnings call, Edward B. Pitoniak, CEO stated: “We have also partnered with Penn to acquire Greektown, which as Penn noted this morning on their own earnings call, we anticipate closing by the end of May.” 

The Michigan Gaming Control Board is scheduled to meet on May 21st. An agenda for that meeting has not yet been released.

 

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