SAULT STE. MARIE, MI—The Sault Tribe Board of Directors held a regular meeting on Tuesday, May 6 in Sault Ste. Marie. 

DETROIT—Entertainment Interest Group, LLC (EIG) released a statement late yesterday on the purchase agreement to acquire a 40% stake in Greektown Casino.

EIG Principal Gregg Orley stated, “Our investment company, Entertainment Interest Group, LLC, executed on an agreement late last week to purchase a 40-percent interest in Greektown Casino at a cost of approximately $100 million. Obviously this is a complex transaction, one that requires the cooperation of many public and private entities in order to achieve a successful closing. We plan to meet with all of the interested parties over the next few weeks to discuss our future plans for the casino.”

Entertainment Interest Group, LLC (EIG) is a Bloomfield Hills, Michigan-based investment company.  The company’s principals include Republic Bancorp Founder and former chairman and CEO Jerry Campbell and local businessmen and investors Robert and Gregg Orley,  Jon Weaver and Lawrence Lax.

DETROIT—Entertainment Interests Group LLC (EIG) is seeking to purchase a significant stake in Greektown Casino, the Sault Ste. Marie Tribe of Chippewa Indians confirmed today.

EIG and the Sault Tribe executed a Purchase Agreement late Friday under which EIG will acquire a 40-percent interest in Greektown Casino for $100 million.  The Sault Tribe remains majority owners of Greektown Casino, which is in the process of building a 400-room hotel and completing a 25,000-square-foot expansion of the gaming floor.

SAULT STE. MARIE, MI—The Sault Tribe Board of Directors will conduct their next regular meeting on Tuesday, May 6 at 6 p.m. The meeting will be held at the Kewadin Casino and Convention Center in Sault Ste. Marie.