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twitterDetroit casino licensing delayed
Wednesday, March 29, 2000 | 11:02 a.m.
THE ASSOCIATED PRESS
DETROIT -- State gaming regulators on Tuesday deferred hearings on licensing Detroit's third planned casino, further pushing back the opening of the nearly finished Greektown site.
Attorneys representing the casino said the delay was necessary because the casino is involved in business negotiations that have yet to be finalized. Four investors are reportedly considering offers to sell their 40 percent of the casino after gaming board investigators found problems in their background.
On Tuesday, a spokesman for the investors would not confirm that they were negotiating a sale.
Harrah's Entertainment Inc. and MGM Grand are said to be the top contenders for the available shares. On Tuesday, Harrah's Chief Operating Officer Gary Loveman confirmed that the company is interested in moving into the Detroit market.
"Any major metro area we don't service is of great interest to me," Loveman said.
The Michigan Gaming Control Board had planned to conclude its 20-month investigation into the casino's investors this month, with a public hearing to follow.
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