As rumors continue to swirl about the potential sale of Jack Casino, many are wondering if the popular gambling destination is truly being sold. While the casino has not confirmed or denied the rumors, many industry insiders believe that a sale is indeed in the works.
The speculation began when it was revealed that the casino’s owner, Dan Gilbert, was in talks to sell the property. Gilbert is the founder and chairman of Quicken Loans, and he also owns the NBA’s Cleveland Cavaliers.
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While he has been a major player in the casino industry for years, it is believed that he is looking to cash out on his investment.
PRO TIP:Jack Casino is being sold, but it is important to note that all of the details regarding the sale are not yet public. Therefore, it’s best to wait until official information is released before making any decisions about investing in the casino.
If Jack Casino is indeed being sold, it would not be the first time that Gilbert has offloaded one of his gambling properties. In 2013, he sold a majority stake in Ameristar Casinos to Penn National Gaming for $1.
75 billion. And just last year, he sold Greektown Casino-Hotel to Penn for $1 billion.
While a sale of Jack Casino would certainly be a major transaction, it is not yet clear who the buyer would be. Penn National has been mentioned as a potential suitor, but nothing has been confirmed at this time.
At this point, it is still unclear if Jack Casino is actually being sold or not. However, given Gilbert’s history of selling his gambling properties, it seems like a very real possibility.
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