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The founder of Quicken Loans, worth an estimated $ billion and ranked Greektown Casino takes in about $ million a year in revenues.


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Dan Gilbert selling Greektown Casino-Hotel in Detroit for $1 billion
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Billionaire Dan Gilbert has reached an agreement to sell his Greektown Casino in downtown Detroit for $1 billion.


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Billionaire Dan Gilbert has reached an agreement to sell his Greektown Casino in downtown Detroit for $1 billion.


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Greektown's operating assets will expand Penn National's vast regional Greektown Casino-Hotel generates an annual net revenue of about.


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Gilbert purchased Greektown back in , as part of a wider effort to revitalize downtown Detroit, in which he owns several other businesses.


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The founder of Quicken Loans, worth an estimated $ billion and ranked Greektown Casino takes in about $ million a year in revenues.


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Greektown Casino had a total taxable value of $75 million, more than GM's $73 million. Employees at the casinos and auto makers also pay.


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Gilbert purchased Greektown back in , as part of a wider effort to revitalize downtown Detroit, in which he owns several other businesses.


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Billionaire Dan Gilbert has reached an agreement to sell his Greektown Casino in downtown Detroit for $1 billion.


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Overview Latest news Net worth summary Biography Relative value , has also expanded into casinos, buying Detroit's Greektown Casino in April


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Please be polite. We don't know because those companies are private. Follow him on Twitter jgallagherfreep. Check out this story on Freep.

Let friends in your social casually are indian casinos tax exempt think know what you are reading about. As I said, greektown casino net worth is speculation. Post to Facebook.

Gilbert is aggressively defending Quicken against the charges in that case, too, and his company may yet escape any penalty. And interest rates are rising. A link has been posted to your Facebook feed. Even a multibillionaire like Dan Gilbert needs to cash out of some things occasionally to give himself some liquidity.

Typed comments will be lost if you are not logged in. Third, Gilbert has mapped ambitious plans for downtown Detroit, and these projects will cost a great deal of money before they bring in any revenue.

Either way, greektown casino net worth would mean less cash left over for Gilbert's many other projects. This is a test to see whether we can improve the experience for you.

If you see comments in violation of our community guidelinesplease report them. Greektown Casino sale shows even billionaires like Gilbert need cash Even a multibillionaire like Dan Gilbert needs to cash out of some things occasionally to give himself some liquidity. But even with those subtractions, Gilbert and his partners should still net a few hundred million dollars from the sale.

But all in all, this looks like a good time for Gilbert to raise a little cash. Cancel Send. But history suggests that plans for 'tallest towers' may herald the coming of a recession. But major sports franchises are expensive greektown casino net worth operate.

Finally, Gilbert is facing at least a potential of major penalties in two legal cases that he's fighting. Comments Welcome to our new and improved commentswhich are for subscribers only.

As interest rates rise, refinancing becomes less attractive to homeowners. You do not need a Facebook profile to participate. But it will be at least another three or four years before those projects start throwing off cash.

Top of that list is the Hudson's site project, now in the early stages of construction. Does he need the cash? ET Nov. Detroit businessman Dan Gilbert plans to break ground soon on the tallest building in Detroit.

But it's a cloud, all the same. First, his Quicken Loans online mortgage company remains the flagship of his far-flung family of companies. Or, maybe, a lot of cash. Share This Story! Or it may be cutting margins to keep up its volume. We have greektown casino net worth reason to think Gilbert-backed startups are any different.

Even a multibillionaire like Gilbert needs to cash out of some things occasionally to give himself some liquidity.

And then there's the U. Dan Gilbert: I'm not trying to buy the Tigers. A link has been sent to your friend's email address. Gilbert refuses to settle mortgage lawsuit.

Contact John Gallagher: or gallagher freepress. But if a judgement goes against him when the case goes to trial next year, the penalty could run to hundreds of millions of dollars. Gilbert has vigorously denied the allegations and may in fact avoid the penalty when the case finally ends. That's another cash drain. That, too, calls on his cash reserves. It's OK to disagree with someone's ideas, but personal attacks, insults, threats, hate speech, advocating violence and other violations can result in a ban. He'll get some generous tax incentives to help him cover the cost. You will need to register before adding a comment. Welcome to our new and improved comments , which are for subscribers only. But startups require a lot of investment up front and normally have to operate for at least a few years before generating significant profits.