VIP gaming area opened in February 2009. In November 2009, of convention space opened with a newly designed poker room. Changes in ownership By late 2007, the casino was in financial trouble, as its debt-to-equity ratio fell below the minimum threshold negotiated with the lenders who financed the expansion. The state threatened to force a sale unless the casino could obtain new financing. In May 2008, Greektown Casino filed for Chapter 11 bankruptcy protection to prevent the forced sale. In June 2010, a group of Greektown's bondholders, organized as Greektown Superholdings, Inc., bought the casino out of bankruptcy. John Hancock Financial, OppenheimerFunds, Brigade Capital, and Solus Alternative Asset Management together owned 78% of the company. Rock Gaming, owned by Dan Gilbert, agreed in January 2013 to buy a majority stake in the Greektown Casino. This was part of Gilbert's plan of investment to help revitalize downtown Detroit. In February 2016, it was announced as part of Rock Gaming's rebranding as Jack Entertainment that the property would be renamed to Jack Detroit Casino–Hotel Greektown. Plans for the name change were canceled in March 2018, as Gilbert was planning to sell the property and exit the casino business. In May 2019, Vici Properties and Penn National Gaming (now Penn Entertainment) jointly bought Greektown from Jack Entertainment. Vici paid $700 million for the real estate assets, while Penn National paid $300 million for the operating business. It leased the property from Vici for $56 million per year. In May 2022, the casino was rebranded under Penn National's primary brand, Hollywood Casino. It also completed more than $30 million in Detroit-themed renovations that covered almost every area of this facility. The ongoing renovation and remodeling process includes the remodeled VIP garage with over 700 spaces designed for high-rollers, the hotel lobby, and elevator lobbies. As of 2022, all 400 rooms are in the process of remodeling. See also Caesars Windsor Greektown Detroit People Mover station Wikimedia graph of Detroit's casino revenues List of tallest buildings in Detroit References External links Emporis profile of Greektown Casino 2000 establishments in Michigan Casinos in Michigan Greektown, Detroit Skyscraper hotels in Detroit Resorts in Michigan Performing arts centers in Michigan Economy of Detroit Casinos completed in 2000 Hotel buildings completed in 2008 Cannery Casino Resorts Tourist attractions in Detroit Casino hotels