Greektown granted regulatory approval to use DIP funding for casino construction

By Jennifer Lanning Drey

Portland, Ore., June 27 - Greektown Holdings LLC obtained final approval from the Michigan Gaming Control Board for its $150 million debtor-in-possession financing, according to a company news release.

The U.S. Bankruptcy Court for the Eastern District of Michigan approved the DIP financing Thursday.

The company needed both approvals in order to use a portion of the funding to complete construction of its permanent casino and hotel expansion.

Greektown is a Detroit casino operator. Its Chapter 11 case number is 08-53104.

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