Greektown Casino in Detroit filed for Chapter 11 bankruptcy protection Thursday, May 29. The Sault Ste. Marie Tribe of Chippewa Indians, the majority owner, announced plans to reorganize under the protection, and also told of its plans to seek $150 million in additional financing for operations and to complete the construction of a new 400-room hotel and gaming floor expansion in Detroit.

Greektown Casino opened November 10, 2000.

Sault Tribe directors and Casino Management Board Chairman Tom Miller said the casino is reorganizing the business and completing permanent casino construction with additional financing to make "a bigger and more viable Greektown Casino." While in bankruptcy, casino operations will continue as normal for all guests, employees, vendors, suppliers, and contractors.

"Entering Chapter 11 reorganization, Greektown Casino is a healthy, profitable business," said Van E. Conway of Conway Mac- Kenzie and Dunleavy, a financial consulting firm working on Greektown Casino's reorganization. "Greektown Casino is finalizing debtor-in-possession financing that enables the company to complete its permanent casino and hotel, pay all obligations, and continue normal business operations during the entire process."