The Sault Ste. Marie Tribe of Chippewa Indians is reviewing its options regarding the Greektown Casino-Hotel in Detroit, which may include losing its majority stake in the bankrupt casino and hotel complex. Tribal officials say if it loses the casino, services to tribal members may be impacted, but the operation of its northern Michigan casino chain will not be.

The tribe will face three possible

outcomes when the casino complex

exits from Chapter 11 bankruptcy as early as September. Three bankruptcy exit plans are before Eastern District of Michigan U.S. Bankruptcy Court Judge Walter Shapero: The tribe would retain its majority ownership of the casino, the tribe would end up with a minority stake in the casino, the tribe would end up with no ownership at all. Judge Shapero will hear testimonies from tribal members and parties involved with the bankruptcy case over the next several weeks before making his decision regarding the casino's exit from bankruptcy.

Tribal spokesperson Roger Martin told The St. Ignace News Thursday, July 23, there are several exit proposals before the judge, including one from the casino's primary creditor, Merrill Lynch, and another from an unnamed "prominent Michigan businessman." He said the tribe is deciding which proposal it thinks is best and will testify before the court in hopes that that proposal will be selected.

"Right now the tribe is considering all those options and will choose the option in the best interests for tribal members," Mr. Martin said.

The tribe put the casino into Chapter 11 bankruptcy May 29, 2008, during the completion of its hotel and gaming floor expansions. The filing allowed the tribe and other casino owners to obtain debtor-in-possession financing to complete the two expansion projects, which were finished in February of this year, bringing the casino's debt total to more than $755 million.

Mr. Martin said the goal of the Greektown Casino complex was to generate more revenue for the tribe and help achieve self-sufficiency for tribal programs and services. If the tribe loses all or some of its majority stake in the casino, he said, some of those programs and services will suffer, but he would not speculate as to how.

If the tribe loses any stake in the Detroit casino, Mr. Martin said it will not affect the tribe's casinos in northern Michigan. The tribe owns casinos at St. Ignace, Hessel, Sault Ste. Marie, Manistique, and Christmas, all five in the U.P.

"I don't think there will be any affect on the five northern Michigan Kewadin casinos at all," he said. "The casinos up there have done quite well."

Greektown Casino opened in November 2000 and was owned by the tribe and a group of Detroit developers.