DonPromoGroup

Marina bay sands casino time. Fastest Payout Online Casinos in the USA for 2021

Jack’s casino zaanstadDan Gilbert’s JACK Entertainment announces $1 billion sale of its Detroit Greektown Casino

Dan Gilbert’s JACK Entertainment announces $1 billion sale of its Detroit Greektown Casino

Greektown Casino in Detroit.

Dan Gilbert’s JACK Entertainment gambling business announced Wednesday that that it has agreed to sell its Detroit Greektown Casino-Hotel for $1 billion in cash.

Penn National Gaming, which operates Hollywood branded casinos in Toledo and Columbus, will pay $300 million to run Greektown, JACK Entertainment announced. A real estate investment trust tied to Caesars Entertainment, VICI Properties, will pay $700 million for the real estate.

The deal does not involve JACK’s casinos in Cleveland and Cincinnati, nor its JACK Thistledown Racino in North Randall, southeast of Cleveland. It’s possible that those operations will be sold later. In response to questions, the company would say only through email: “JACK Entertainment is continuing a strategic assessment for its remaining gaming properties.”

Gilbert, in addition to holdings in JACK Entertainment and Quicken Loans, Santa?S Kiss slots FortuneJack Casino play online has been the majority owner of the Cleveland Cavaliers basketball team since 2005.

Bloomberg first reported in September that JACK Entertainment had retained Deutsche Bank and Credit Suisee to help navigate a potential sale of its properties.

There has been a buying spree in the casino industry. For example:

  • The Hard Rock Rocksino Northfield Park was purchased in July by MGM Growth Properties for $1.02 billion.
  • MGM Resorts International earlier this year announced an $850 million deal to buy the Empire City Casino and Yonkers Raceway from the Rooney family of Pittsburgh Steelers ownership fame.
  • Caesars Entertainment closed a $1.7 billion deal to buy Hoosier Park and Casino in Anderson, Ind., and the Indiana Grand Racing and Casino in Shelbyville, Ind., for $1.7 billion.

Caesars originally partnered with Gilbert in the opening of the of the Cleveland casino in 2012 and Double down casino chip discount the Cincinnati casino in 2013, both under the Horseshoe brand name.

Gilbert and his family of companies “are targeting” use money from the Greektown deal to invest in Detroit real estate and business development, Wednesday’s announcement said.

“We purchased Greektown Casino-Hotel as a part of our overall economic development strategy in Detroit,” said Matt Cullen, chief executive officer of JACK Entertainment. “We chose to sell to Penn National, in large part, due to its strong culture and the quality of its leadership and team.”

The deal is expected to close in 2019. Gilbert acquired Greektown in 2013.

VICI Properties holdings include 20 gambling properties, including Caesars Palace in Las Vegas. VICI properties, under leasing agreements with Caesars Entertainment, are operated Caesars, Horseshoe, Harrah’s and Bally’s names. However, the Greektown announcement said Penn National would be the operator in Detroit.

Gilbert and Penn National teamed on the campaign in 2009 to legalizing casino gambling in Ohio, winning approval from voters to open casinos in Cleveland, Cincinnati, Columbus and Toledo. Campaign spending of $47 million was covered almost entirely by interests tied to Gilbert and those of Penn National Gaming.

Note to readers: Eagle mountain casino cage fights if you purchase something through one of our affiliate links we may earn a commission.

Disclaimer

Registration on or use of this site constitutes acceptance of our User Agreement, Privacy Policy and Cookie Statement, and Your California Privacy Rights (User Agreement updated 1/1/21. Privacy Policy and Cookie Statement updated 5/1/2021).

© 2021 Advance Local Media LLC. All rights reserved (About Us).

The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Advance Local.

Community Rules apply to all content you upload or otherwise submit to this site.

Settings

Visit

My Xclub

2999 Street Road

Bensalem, PA 19020

Welcome, Guest

Casino

Dining

Entertainment

Casino

Parx Casino ® offers state-of-the-art gaming with over 3,300 slots and 188 live table games as well as live entertainment, thrilling promotions, exciting events and a convenient gift shop!

Slots

Let’s play! Take a spin on your choice of over 3,300 of the most popular slots including Progressive, Reel, Poker, Novelty and Video Machines!

Tables

Pull up a chair and get ready to place your bets! With 188 world-class table games including Blackjack, Craps, Roulette, 3 Card Poker, 4 Card Poker and Baccarat – we’re sure to have your game!

Poker

Go all in at the new Parx Poker Room located inside the main casino building! Featuring over 48 action packed tables with beautifully appointed high-end finishes, 22 high definition TVs, Mighty slots casino no deposit codes and an exclusive 3-table VIP high-limit poker enclave.

Real Money Online Casino

Play Online Slots & Casino Games for Real Money

Sports Betting

Sports betting is here in Pennsylvania. You can make bets at the brand new Sportsbook at Parx Casino ® and the South Philadelphia Race & Sportsbook. You can also bet online via the Parx Casino & Sportsbook app, available on any device.

Calendar

The latest slot and table game promotions, entertainment and racing events right at your fingertips!

View Our Property Map

Looking for your favorite game? Want to find the closest ticket redemption machine or ATM? Wondering where you can place a self bet? Our interactive property map has your answer.

Live Game Report

See what’s going on right now with our real time game report. Stop-by anytime to see what we’re dealing, playing, spinning and rolling. See how many tables are going for your game of choice. Pretty convenient, right?

Voted 2016 & 2017

Best Casino in Pennsylvania

  • Careers
  • About
  • Responsible Gaming
  • Vendors
  • Media Kit
  • Apps
  • Accessibility
  • Privacy
  • 1–888–LUV–PARX

    2999 Street Road, Bensalem, PA 19020

    Visit Us

    Located only 15 miles from Philadelphia, just minutes off of I‑95, PA Turnpike and Best bitcoin slot machines to play on iphone US‑1

    Property Map

    Looking for your favorite game? Our interactive property map has your answer.

    Join the Xclub

    Join the Xclub to receive free slot play, Free spin bitcoin casino no deposit bonus sweepstakes entries, points & perks

    Gambling Problem? Call 1-800-GAMBLER

    ©2021 Greenwood Gaming & Entertainment, Inc. Must be over 21 to visit .

Закрыть меню
    0
    Ваша корзина
    Ваша корзина пустаВернуться в магазин
    ×
    ×

    Корзина