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November 25, 2009

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Michigan tribe takes the helm at Greektown Casino

Thursday, June 6, 2002 | 11:37 a.m.

The Sault Ste. Marie Tribe of Chippewa Indians has taken over management of Detroit's Greektown Casino from Millennium Management, the Las Vegas company that helped launch the property.

Greektown is 90 percent owned by the tribe, which also runs other casinos in the region. The casino, which is not located on tribal or federal land, posted a 40 percent increase in revenues in April, to $28.2 million, compared to a year earlier.

Partners at Millennium have helped open several Las Vegas hotel-casinos, including the Luxor, and have held top positions at Caesars Palace and the Nevada Gaming Control Board.

The tribe will retain Millennium as consultants for Greektown through November 2010. Millennium, founded in 1996 to manage and build casinos, began its first project with Greektown. The company recently began leasing and operating the bankrupt Regent Hotel & Casino north of Las Vegas, renaming it the Rampart Casino at the Resort in Summerlin. It is also building its first casino, the Cannery Casino & Hotel, in North Las Vegas.

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