Gilbert selling casino for a billion dollars

**Bham1982** · November-15-18, 07:10 AM

Originally Posted by Gistok

Gilbert's 3 main city center projects... the Hudson's, Compuware and Monroe blocks alone could gobble up twice that $1 billion.

No one builds [[or buys) with their own money. It's always OPM.

If these projects eventually rise [[none are financed, BTW), it will be due to a complex mix of loans/subsidies. Greater liquidity helps with the loans, but that money won't be used directly.

**detroitsgwenivere** · November-15-18, 08:43 AM

Me thinks the sale of the casino has less to do with development money, and more to do with the following:

https://www.detroitnews.com/story/bu...dict/32981373/

That's 3/4 of a billion dollars. Who has that sitting around in their bank account?

**Gistok** · November-15-18, 01:34 PM

Originally Posted by detroitsgwenivere

Me thinks the sale of the casino has less to do with development money, and more to do with the following:

https://www.detroitnews.com/story/bu...dict/32981373/

That's 3/4 of a billion dollars. Who has that sitting around in their bank account?

I have a feeling that the Hudson's Tower and Building will be nearly completed before this makes its' way thru the court system with appeals and counter claims. Gilbert's legal team will see to that.

**softailrider** · November-15-18, 06:04 PM

Makes no difference to me who he sells the casino to. If I want to go there to gamble, I’ll go. The dice don’t care who owns Greektown either, they can’t think, they don’t have a brain.

**Meddle** · November-15-18, 06:34 PM

Originally Posted by softailrider

The dice don’t care who owns Greektown either, they can’t think, they don’t have a brain.

I don't think I'd bet money on that these days.

**Towne Cluber** · November-15-18, 07:16 PM

Originally Posted by detroitsgwenivere

Me thinks the sale of the casino has less to do with development money, and more to do with the following:

https://www.detroitnews.com/story/bu...dict/32981373/

That's 3/4 of a billion dollars. Who has that sitting around in their bank account?

A multi-billion dollar company as well as anyone worth $7b+ [[approximately 300 people in the world) easily has that sitting in their bank account.

**bust** · November-17-18, 02:01 PM

Wouldn't it be great if instead of the Tigers he used some of the proceeds to buy Ilitch real estate properties?

**Danny** · November-18-18, 10:41 AM

This is Gilbert's plan all long.

BUY, FIX, SELL, REPEAT.

So He can get the Detroit Tigers. Or better yet BUY DETROIT LIONS!!

**Atticus** · November-29-19, 09:36 PM

So, general question for the board:

While I wish her [[and everyone) the best of health in the years to come, the truth is Marion Illitch is 86 years old. At some point in the not too distant future, she will have to pass her assets onward. [[Trying to state that as delicate as possible).

As I understand it, Chris Ilitich cannot own both the Tigers and Motor City Casino per MLB ownership
requirements. So at some point in the not too distant future, it would appear that he will have to choose one or the other, and give something up. What stays and what gives?

**401don** · November-30-19, 08:40 AM

Originally Posted by Atticus

So, general question for the board:

While I wish her [[and everyone) the best of health in the years to come, the truth is Marion Illitch is 86 years old. At some point in the not too distant future, she will have to pass her assets onward. [[Trying to state that as delicate as possible).

As I understand it, Chris Ilitich cannot own both the Tigers and Motor City Casino per MLB ownership
requirements. So at some point in the not too distant future, it would appear that he will have to choose one or the other, and give something up. What stays and what gives?

You know they have 5 other kids, right?

**Danny** · November-30-19, 12:43 PM

He already sold Greektown Casino so he built his tower that the be the New Ren Cen.

**Metro25** · November-30-19, 02:11 PM

Originally Posted by Atticus

As I understand it, Chris Ilitich cannot own both the Tigers and Motor City Casino per MLB ownership
requirements. So at some point in the not too distant future, it would appear that he will have to choose one or the other, and give something up. What stays and what gives?

Cant she just give it to another person? The Ilitches are like cockroaches there are so many ugly family members.

**Scottathew** · November-30-19, 10:06 PM

Originally Posted by Metro25

Cant she just give it to another person? The Ilitches are like cockroaches there are so many ugly family members.

The rules are so silly and easily circumvented. They just need enough shells in the shell game to be able to continue to own whatever they want.

Just as Trump would have some LLC just to deal with each construction project, so can they. Trump used all his shell corporation to screw over companies and union workers. At least the Ilitches don't seem to do that.

I appreciate the respect that Atticus showed while asking his/her question.

**Hamtragedy** · December-01-19, 01:55 AM

One year and a massive stroke later...........

**night-timer** · December-05-19, 09:12 PM

One post-er mentioned the 'Fail Jail' site. I assume this is the one on Gratiot, quite close to downtown? I've never paid much attention to that particular site. Its construction was probably commenced around the time of municipal bankruptcy being declared. Detroit is probably looking a fair bit brighter now than in those days. Gratiot from downtown all the way up to [[or beyond) the Dequindre Cut is ripe for re-development, too, given its proximity to downtown.