Goldberg interested in Detroit casino

Wednesday, Feb. 2, 2000 | 10:58 a.m.

Park Place Entertainment Corp. is eyeing Detroit's soon-to-open Greektown Casino, the only Detroit casino without Las Vegas ownership.

Arthur Goldberg, chairman of Park Place, said Tuesday that he's interested in purchasing a stake in the casino and branding it under the Caesars Palace name. Park Place recently acquired Caesars World Inc. for $3 billion.

"We think the Caesars name would look good in Detroit," Goldberg said during a conference call with analysts and investors. "We're looking very closely at that now."

About 40 percent of the casino is said to be for sale, due to reports some shareholders would have difficulty getting licensed by Michigan gaming regulators. Those shares could be worth as much as $180 million.

Goldberg said Park Place doesn't necessarily need a majority stake, but wants to be the operator of the casino, now scheduled to open in April. Park Place is currently the operator of Caesars Windsor, located just across the Canadian border from Detroit.

The majority owner of the Detroit casino is the Sault Ste. Marie Tribe of Chippewa Indians, which has the right to match any offer made for a minority stake.

Other Las Vegas casino operators reported to be interested in the Greektown property include Harrah's Entertainment and the Venetian.