Detroit Swag-o-mania

A silhouetted bronze sculpture of Poseidon frames the illuminated main entrance to the Detroit Institute of Arts during Detroit's annual Delectricity festival of lights. Stretching along Woodward Avenue through the heart of Detroit's Cultural Center the celebration is a growing and popular two-night event.

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  1. #1
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    Default motorcity casino sold to wynn resorts limited [Rumor]

    A little bird told me we were sold to Wynn resorts. Discuss

  2. #2
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    That can't be anything but a big plus IMO. I wonder if MGM Resorts International is still trying to dump its stake in the MGM Grand Detroit?

  3. #3
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    Quote Originally Posted by 313WX View Post
    That can't be anything but a big plus IMO. I wonder if MGM Resorts International is still trying to dump its stake in the MGM Grand Detroit?
    Can Gilbert own 2 Detroit Casinos?

  4. #4
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    who is going to be the first to ask if this is where the Ilitch money for the arena is coming from?

    Seriously, as the Ilitches get older and older do they really want to own a hotel - casino? Or do their children want to own it?

    Isn't pizza and sports enough for a guy in his 80s?

    Note: I realize that ownership is in his wife's name. But is Ilitch gets older so does his wife and she needs to think about all of the businesses and properties within the family.

  5. #5
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    I wonder if this has anything to do with the NHL frowning upon team owners also owning casinos as well as arenas being built in too close proximity to casinos. I know they got around the first issue by making Marianne the owner of the Casino on paper and getting the NHL to compromise. I wonder if the proximity issue now puts them over the top and they had to divest their stake.

  6. #6
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    There's been nothing about such a change here in the Las Vegas papers. And they cover every fart Wynn makes.

  7. #7
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    Quote Originally Posted by gameguy56 View Post
    Can Gilbert own 2 Detroit Casinos?
    Nope, Michigan gaming laws prohibit one company from owning more than one Detroit casino property.

  8. #8
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    Why hasn't MLB investigated Illitch? I don't care if the casino is in his wife's name or not, you are married to the person so therefore the profits made from owning the casino benefit him as well. He should have been stripped of his ownership of the Tigers when this happened.

  9. #9
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    So I went to wikipedia and looked up Marian Ilitch and this is what it says:

    Marian Ilitch
    Born January 7, 1933 (age 80)
    Dearborn, Michigan
    Residence Detroit, Michigan
    Citizenship United States
    Occupation entrepreneur, owner of Detroit Tigers & Detroit Red Wings, founder of Little Caesars Pizza
    Spouse(s) Mike Ilitch
    Children seven

  10. #10
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    Quote Originally Posted by Brian1979 View Post
    So I went to wikipedia and looked up Marian Ilitch and this is what it says:

    Marian Ilitch
    Born January 7, 1933 (age 80)
    Dearborn, Michigan
    Residence Detroit, Michigan
    Citizenship United States
    Occupation entrepreneur, owner of Detroit Tigers & Detroit Red Wings, founder of Little Caesars Pizza
    Spouse(s) Mike Ilitch
    Children seven
    That is Wikipedia; half the stuff in their is someone's opinion, not fact.

  11. #11
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    Marian is not an owner of the Tigers, according to the MLB, so she can own the casino. She IS an owner of the Wings, but the NHL isn't as stringent with their rules about owners being involved in gambling.
    Old article, but relevant: http://www.nytimes.com/1998/01/18/sp...ted=all&src=pm

  12. #12
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    Quote Originally Posted by jcole View Post
    That is Wikipedia; half the stuff in their is someone's opinion, not fact.
    At least I know (I think) Mariam's age.

  13. #13
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    Mike not doing so hot, healthwise.

  14. #14
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    Quote Originally Posted by Hamtragedy View Post
    Mike not doing so hot, healthwise.
    Are his kids as invested in Detroit as he is?

  15. #15
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    State approval is needed for the transfer of ownership, is it not?

    as far as MGM? I know in 2010 it had the second highest revenues of all the MGM/Mirage casinos. And the CEO gave an interview on the subject this march that shows absolutely no idea that they are interested in leaving

    http://www.mlive.com/business/detroi...ional_ceo.html

  16. #16
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    Quote Originally Posted by gameguy56 View Post
    Are his kids as invested in Detroit as he is?
    I believe his son Christopher is the President/CEO of Illitch Holdings, after Mike goes it really isn't clear what will happen.

  17. #17
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    Quote Originally Posted by rb336 View Post
    as far as MGM? I know in 2010 it had the second highest revenues of all the MGM/Mirage casinos. And the CEO gave an interview on the subject this march that shows absolutely no idea that they are interested in leaving

    http://www.mlive.com/business/detroi...ional_ceo.html
    From 2009...
    http://online.wsj.com/article/SB123883052441189601.html

  18. #18
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    This is the only article I find about a new acquisition for Wynn:
    http://www.reviewjournal.com/busines...-massachusetts

  19. #19
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    Quote Originally Posted by 313WX View Post
    that's damn current!

  20. #20
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    Quote Originally Posted by gopher View Post
    A little bird told me we were sold to Wynn resorts. Discuss
    Who's the little bird?

    Is this the same little bird that said Target and Walmart is opening up in downtown a couple years ago? How about Matty Moroun finding a buyer for the Ambassador bridge for a billion dollars? Give me a break. You mention one of the worst carpet bagging land speculators in the city (up there with Moroun) that seriously inflates the market value of any property so that no one would want to touch it with a thousand foot pole. If it had any merit, the Free Press and Crain's would be all over it, yet I can't find a link anywhere. Back it up with proof or knock off the bs.

  21. #21
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    Quote Originally Posted by Brian1979 View Post
    Why hasn't MLB investigated Illitch? I don't care if the casino is in his wife's name or not, you are married to the person so therefore the profits made from owning the casino benefit him as well. He should have been stripped of his ownership of the Tigers when this happened.
    In case you didn't know it... this has been investigated to death by both the Michigan Gaming Board and Major League Baseball.... So if they didn't have any problem with it, your concerns that Ilitch should be stripped of MLB ownership are groundless....

  22. #22
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    .... also Marian Ilitch is a few years younger that Mike... I don't foresee her wanting to relinquish control of the casino... and I can see her taking over the empire (with her children) when Mike is no longer here. Unlike Bill Davison... Mike Ilitch's wife has ALWAYS been involved in the company business... and will likely always be so...

    I don't think total retirement is in their blood...

  23. #23
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    Quote Originally Posted by gopher View Post
    A little bird told me we were sold to Wynn resorts. Discuss
    Who gives a shit? I lose most of the time I go anyway - why should I care who gets my money?

  24. #24
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    Quote Originally Posted by jcole View Post
    That is Wikipedia; half the stuff in their is someone's opinion, not fact.
    Uh I would hope that the most basic info is fact. What....do you own the Tigers or Red Wings?

  25. #25
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    Quote Originally Posted by rb336 View Post
    that's damn current!
    Thus why I asked before, because I hadn't heard anything else about the potential sale.

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