Bloomberg: Cleveland Cavaliers Owner Dan Gilbert Wants to Sell Casino Holdings
Arriving downtown in with about 1, employees, he quickly bought or acquired control of about properties, including major landmarks. The Free Press sources, though, lack firsthand knowledge of such talks, and of course there's no guarantee any deal will emerge even if there have been discussions. The gambling industry is in the midst of an acquisition wave, thanks in part to the emergence of casino-based real estate investment trusts that allow bidders to pay higher prices for properties. And, of course, Ilitch had already earned goodwill from owning the Red Wings and restoring the historic Fox Theater. In a few short years, Gilbert has already grown into one of Detroit's major public personalities. Caesars has considered purchasing Gilbert's casinos in combination with Vici Properties Inc. And the bid book that Gilbert and his team put together for Detroit's bid for Amazon's second headquarters, while ultimately unsuccessful in getting on Amazon's short list, was among the best such efforts produced in Detroit in many a year.
Steps to a deal
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