MOTORCITY CASINO

'MotorCity Casino Resort' (2008) is one of three casinos in Detroit, Michigan. The 4-story casino incorporates an Old Wonder Bread Building. It also has a 3500-spot parking structure. The casino is owned by Marian Ilitch. ''Forbes'' reported in October 2006 that the gambling palace has annual revenues of $400+ million and operating income of $125 million, expected to rise to $180 million under the change in tax structure following completion of the resort.^[1]

Contents

Ownership Interests & Activity

Casino hotel

See also

References

External links

Ownership Interests & Activity

Marian Ilitch, one of the founders of the MotorCity Casino, purchased controlling interest from various minor stakeholders and Mandalay Resort Group (Circus Circus Michigan)/MGM Mirage Resorts in 2005. ^[2] Michigan gaming laws prohibit one company from owning more than one casino property in a market, so to affect the Mandalay Resort/MGM Mirage merger the publicly traded companies had to divest MotorCity Casino, choosing to keep MGM Grand Detroit.^[3] Ilitch paid $525 million for Mandalay Resort Groups 53.5 percent interest in the MotorCity Casino enterprise. The acquisition was a merger in which Mandalay controlled Circus Circus Michigan, Inc. was survived by IH Gaming, Inc.^[4]
MotorCity Casino is not a corporate entity; rather it is a ''dba'' for the Ilitch-owned and controlled Detroit Entertainment, LLC.^[5]
With Mrs. Ilitch as sole owner, MotorCity Casino Hotel is reportedly one of the largest independently owned casinos in the U.S. and likely the largest and only 100 percent female-owned casino enterprise in the United States^[6].
Ilitch and her husband Michael Ilitch are co-founders of Little Caesar's Pizza. They are vice chairwoman and chairman respectively of Ilitch Holdings, Inc. which includes the Detroit Red Wings NHL franchise and various food service and entertainment ventures. Michael Ilitch owns the Detroit Tigers MLB franchise.
Mrs. Ilitch and a business partner, Michael J. Malik, Sr., pursue other casino gambling interests outside of Michigan. Malik had been a founder of MotorCity Casino but was forced to sell his interests when the Michigan Gaming Control Board would not grant him a license. He sold his shares in MotorCity Casino to Ilitch. Among their other ventures: Gateway Casinos Resorts, LLC partnered with the Shinnecock Indians in the Hamptons, NY; and Barwest, LLC partners with the Big Lagoon Rancheria Indians and the Los Coyotes Band of Cahuilla and Cupeno Indians to develop casinos in Barstow, California.
According to the Center for Responsive Politics, reports required by the Federal Election Commission and the CA, MI and NY Elections Officials from 2002-2006 inidicate Ilitch family members and business partners contributed more than $900,000 to political campaigns and PACs.^[7]
Federal lobbying reports required to be filed with Clerk of the U.S. House of Representatives and compiled by The Center for Public Integrity indicate between $0.5-$1.3 million in was directed to Wheat Government Relations (former Congressman Alan Wheat) the primary D.C. lobbyist representing Ilitch and her various partners contract with to lobby Federal officials on gaming or related matters from 2002-2005.

Casino hotel

A $275 million expansion is expected to be completed by the end of 2007. Legendary hot-rod car designer Chip Foose of Huntington Beach, California had a major hand in developing the casino's new unique exterior and interior look.[2] The MotorCity Casino & Resort was constructed using existing casino space, an expanded parking structure with from 3500 to 4800 spots, a 17-story hotel with 400 rooms, an 1800-seat performance theater, a 200-seat, 24-hour coffee shop, and a 50,000-square-foot convention center with a 12,000-square-foot ballroom. ^[8]

See also

★ Casino Windsor

★ Greektown Casino

★ MGM Grand Detroit

References

1. Mark Tatge with Miriam Gottfried (10-09-2006).Encore ''Forbes''.
2. Merger agreement ''Edgar-online'' (accessed 04-06-2007).
3. Mandalay Resort Group to sell holdings in Detroit casino ''Newsratings.com'' (03-24-2005).
4. Certificate of Merger ''Michigan Department of Labor & Economic Growth'' (accessed 07-01-2007)
5. Corporate Filings ''Michigan Department of Labor & Economic Growth'' (accessed 07-01-2007)
6. Ilitch Holdings, Inc. (accessed 04-06-2007)
7. [1](accessed 04-06-2007).
8. Michigan Gaming Control Board (accessed 04-06-2007).

External links

★ official web site of MotorCity Casino

★ official web site of Ilitch Holdings, Inc.

★ Detailed Timeline -gaming in Detroit since 1995