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Penn National Gaming Acquires Greektown Casino

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6 years ago

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Penn National Gaming Acquires Greektown Casino
Photo Source: crainsdetroit.com
Reading Time: < 1 minute

 

Penn National Gaming, the Pennsylvania based casino operator, has acquired the Greektown Casino-Hotel in Detroit from Jack Entertainment through a $300m cash deal.

Penn has entered into a lease agreement with Vici Properties for the Greektown facility with an initial annual rent of $55.6m and a term of 15 years with renewal options.

The 100,000sq.ft Greektown Casino-Hotel has 2700 slots, 60 table games, poker room, three restaurants, seven fast food outlets, coffee shop and a 400-room hotel.

Penn has operations in 19 jurisdictions with 51,000 slots, 1300 tables and 9000 hotel rooms.

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Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.

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