HomePublicationsNewsletter ArchiveVolume 19Issue 11Athens Acquisition, LLC Finalizes Purchase of Majority Stake in Greektown Casino

In a filing made with the Securities and Exchange Commission on April 15th, Athens Acquisition, LLC reported that it had closed on a series of transactions in which it acquired 59.9% of the common stock of Greektown Superholdings, Inc., the ultimate parent company of Greektown Casino-Hotel, on an unconverted basis, and 76.8% of the voting power of all Greektown Superholdings, Inc. securities.  These acquisitions were approved by the Michigan Gaming Control Board (“MGCB”) at its public meeting on Tuesday, April 9th.  At this meeting, the MGCB also found Mr. Dan Gilbert and Mr. Matt Cullen, principals of Athens Acquisition, eligible and suitable for gaming licensure under the Michigan Gaming Control and Revenue Act.

Athens Acquisition, LLC is an affiliate of Rock Gaming, LLC, an entity that owns majority stakes in two commercial casinos in Ohio, the Horseshoe Casino Cleveland and Horseshoe Casino Cincinnati, and is also involved in the development of a Horseshoe Casino in Baltimore, Maryland, which is expected to be completed in 2014.  Rock Gaming also owns interests in the Thistledown Racino in northeast Ohio and the Turfway Park thoroughbred racetrack in northern Kentucky.

 

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