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Greektown Casino-Hotel
Hollywood Casino at Greektown, formerly Greektown Casino-Hotel, is a casino hotel in the Greektown neighborhood in Detroit, Michigan. It is owned by Vici Properties and operated by Penn Entertainment. The casino opened in 2000, under the majority ownership of the Sault Ste. Marie Tribe of Chippewa Indians. It was the only casino in Detroit controlled by a Native American tribe. In 2008, during the Great Recession, the casino went into bankruptcy and was sold. Hollywood Casino is one of three casinos in the city; there is also a casino in nearby Windsor, Ontario. Detroit is one of the largest American cities to offer casino hotels.Mink, Randy, and Karen Mink (July 2001). "Detroit Turns 300 – Detroit 300 Festival". ''Travel America'', World Publishing Co., Gale Group. History and development Shortly after the enactment of the federal Indian Gaming Regulatory Act (IGRA) in 1988, the Sault Tribe of Chippewa Indians began working with local developers Ted Gatzaros and Jim Papas t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Detroit, Michigan
Detroit ( , ; , ) is the largest city in the U.S. state of Michigan. It is also the largest U.S. city on the United States–Canada border, and the seat of government of Wayne County. The City of Detroit had a population of 639,111 at the 2020 census, making it the 27th-most populous city in the United States. The metropolitan area, known as Metro Detroit, is home to 4.3 million people, making it the second-largest in the Midwest after the Chicago metropolitan area, and the 14th-largest in the United States. Regarded as a major cultural center, Detroit is known for its contributions to music, art, architecture and design, in addition to its historical automotive background. ''Time'' named Detroit as one of the fifty World's Greatest Places of 2022 to explore. Detroit is a major port on the Detroit River, one of the four major straits that connect the Great Lakes system to the Saint Lawrence Seaway. The City of Detroit anchors the second-largest regional econo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Millennium Management Group
Cannery Casino Resorts was a hotel and casino operator based in Spring Valley, Nevada. It was acquired by Boyd Gaming in 2016. History Cannery Casino Resorts was an outgrowth of Millennium Management Group, a casino management company. Millennium was founded in 1996 by two long-time gaming executives, Bill Paulos and Bill Wortman. Millennium's first venture, in 1997, was to join a consortium competing for a license to develop a casino in Detroit, the proposed Greektown Casino Hotel. The Greektown casino opened in 2000 under Millennium's management. Cannery Casino Resorts was created in 2001 by Millennium to develop the Cannery Casino and Hotel in North Las Vegas. In 2002, Millennium assumed management of the casino at the JW Marriott Las Vegas under a ten-year lease agreement and rebranded it as the Rampart Casino. Meanwhile, Millennium transitioned to a consulting role at Greektown, as the casino's owners took over management. The Cannery opened in 2003 at a cost of $105 mil ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rock Gaming
Jack Entertainment (formerly known as Rock Gaming LLC from 2009 to 2016) is a Gambling, gaming, hospitality, and entertainment company based in Cleveland, Ohio. The company operates two gaming facilities in Ohio, Jack Cleveland Casino and Jack Thistledown Racino. History Rock Gaming (2009–2016) Jack Entertainment was founded as Rock Gaming in 2009 by seven businessmen led by Dan Gilbert (businessman), Dan Gilbert, as chairman of its board and Matt Cullen as Chief Executive Officer. The company was formed as the seven men backed the Ohio Casino Approval and Tax Distribution Amendment, which was ultimately approved by voters in November 2009. In May 2012, Rock Gaming, in a joint venture with Caesars Entertainment Corporation, Caesars Entertainment, opened Horseshoe Casino Cleveland as well as gained a stake in a Kentucky racetrack, Turfway Park. The company quickly expanded in 2013, opening ThistleDown Racino, ThistleDown Racino in the nearby Cleveland suburb of North Randal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Brigade Capital
Brigade Capital Management, LP, more commonly referred to as Brigade Capital, is a global alternative investment manager specializing in credit investment strategies. The firm employs a multi-strategy, multi-asset class investment approach focused on leveraged balance sheets and manages core strategies across long/short credit, distressed debt, capital structure arbitrage, long/short equities and structured credit. The hedge fund invests primarily in the retail, media, telecommunications, healthcare, finance, utilities and energy sectors with particular expertise in distressed securities, bankruptcy and reorganization. History Founded in 2006 by Patrick W. Kelly and Donald E. Morgan III, the firm is headquartered in New York City with offices in London, Tokyo and Sydney. In March 2017, Brigade Capital won Firm of the Year from Absolute Return Awards, an award given to the world’s best-performing hedge funds. In 2017, the hedge fund was allegedly defrauded by Craig Carton of WF ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
OppenheimerFunds
OppenheimerFunds, Inc. was a global asset manager. As of February 28, 2019, the company managed over $260 billion in assets in over 13,000,000 investor accounts. In May 2019, the company was acquired by Invesco. OppenheimerFunds had 16 investment management teams that oversaw actively managed equity, fixed income, alternative, and multi-asset portfolios, and exchange-traded funds. Customers included financial advisors and wealth managers and their clients, as well as institutional investors, corporations, financial endowments, foundations, and sovereign wealth funds. History The company was founded in 1959. In 1987, British and Commonwealth Holdings acquired Mercantile House and gained control of OppenheimerFunds. In 1990, the company was acquired by Massachusetts Mutual Life Insurance Company. In July 2012, OppenheimerFunds acquired SteelPath, enabling clients to invest in master limited partnerships. In 2015, the firm acquired RevenueShares to expand its offerings into the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Hancock Financial
John Hancock Life Insurance Company, U.S.A. is a Boston-based insurance company. Established April 21, 1862, it was named in honor of John Hancock, a prominent American Patriot. In 2004, John Hancock was acquired by the Canadian multinational life insurance company Manulife Financial. It operates as an independent subsidiary. The company and the majority of Manulife's U.S. assets continue to operate under the John Hancock name. History On April 21, 1862, the charter of the John Hancock Mutual Life Insurance Company was approved by John A. Andrew, governor of Massachusetts. There was not always a standardization for how the company name has been referenced. For example, a John Hancock advertisement from 1912 refers to the company as "John Hancock Mutual Life Insurance Company," but some John Hancock advertisements and newspaper articles from the 1930s refer to it as the "John Hancock Life Insurance Company." However, 1940s sources again refer to the company as the "John Hancock ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chapter 11 Bankruptcy Protection
Chapter 11 of the United States Bankruptcy Code (Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, whether organized as a corporation, partnership or sole proprietorship, and to individuals, although it is most prominently used by corporate entities. In contrast, Chapter 7 governs the process of a liquidation bankruptcy, though liquidation may also occur under Chapter 11; while Chapter 13 provides a reorganization process for the majority of private individuals. Chapter 11 overview When a business is unable to service its debt or pay its creditors, the business or its creditors can file with a federal bankruptcy court for protection under either Chapter 7 or Chapter 11. In Chapter 7, the business ceases operations, a trustee sells all of its assets, and then distributes the proceeds to its creditors. Any residual amount is returned to the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Debt-to-equity Ratio
The debt-to-equity ratio (D/E) is a financial ratio indicating the relative proportion of shareholders' equity and debt used to finance a company's assets. Closely related to leveraging, the ratio is also known as risk, gearing or leverage. The two components are often taken from the firm's balance sheet or statement of financial position (so-called book value), but the ratio may also be calculated using market values for both, if the company's debt and equity are publicly traded, or using a combination of book value for debt and market value for equity financially. Usage Preferred stock can be considered part of debt or equity. Attributing preferred shares to one or the other is partially a subjective decision but will also take into account the specific features of the preferred shares. When used to calculate a company's financial leverage, the debt usually includes only the Long Term Debt (LTD). Quoted ratios can even exclude the current portion of the LTD. The composition of eq ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Interstate 375 (Michigan)
Interstate 375 (I-375) is a north–south auxiliary Interstate Highway in the city of Detroit, Michigan, United States. It is the southernmost leg of the Walter P. Chrysler Freeway and a spur of I-75 into Downtown Detroit, ending at the unsigned Business Spur I-375 (BS I-375), better known as Jefferson Avenue. The freeway opened on June 12, 1964. At only in length, it once had the distinction of being the shortest signed Interstate Highway in the country before I-110 in El Paso, Texas, was signed. The Michigan Department of Transportation (MDOT) announced in 2013 that it may remove I-375 in the future, and in 2021 the department announced plans to move forward converting the freeway to a boulevard. Route description I-375 and the Chrysler Freeway begin at Jefferson Avenue between St. Antoine Street and Beaubien Street in Downtown Detroit near the Renaissance Center. The freeway runs east before turning north. Just about a mile (1.6 km) after the southern terminus, I ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pension Funds
A pension fund, also known as a superannuation fund in some countries, is any plan, fund, or scheme which provides retirement income. Pension funds typically have large amounts of money to invest and are the major investors in listed and private companies. They are especially important to the stock market where large institutional investors dominate. The largest 300 pension funds collectively hold about USD$6 trillion in assets. In 2012, PricewaterhouseCoopers estimated that pension funds worldwide hold over $33.9 trillion in assets (and were expected to grow to more than $56 trillion by 2020), the largest for any category of institutional investor An institutional investor is an entity which pools money to purchase securities, real property, and other investment assets or originate loans. Institutional investors include commercial banks, central banks, credit unions, government-linked co ... ahead of mutual funds, insurance companies, currency reserves, sovereign wealth ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Park Place Entertainment
Park Place Entertainment, later named Caesars Entertainment, Inc., was a casino company based in Paradise, Nevada. For a time it was the largest casino operator in the world. It was formed in 1998 as a corporate spin-off of the gaming division of Hilton Hotels, and renamed as Caesars Entertainment in 2003. The company was acquired in 2005 by Harrah's Entertainment, which later took on the Caesars Entertainment name. History Hilton's involvement in the gaming industry began in 1947, with its approval to operate what would be the Caribe Hilton Hotel and Casino in Puerto Rico. Other Caribbean casinos followed, including the Havana Hilton and El Panama Hilton. Hilton's international hotels were spun off as a separate company in 1964. Hilton returned to gaming in 1970, buying a controlling interest in Kirk Kerkorian's International and Flamingo hotels in Las Vegas. Its casino holdings grew to ten properties over the years, accounting for more than half of the company's revenues. H ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
MGM Grand, Inc
Metro-Goldwyn-Mayer Studios Inc., also known as Metro-Goldwyn-Mayer Pictures and abbreviated as MGM, is an American film, television production, distribution and media company owned by Amazon through MGM Holdings, founded on April 17, 1924 and based in Beverly Hills, California. MGM was formed by Marcus Loew by combining Metro Pictures, Goldwyn Pictures, and Louis B. Mayer Pictures into one company. It hired a number of well known actors as contract players—its slogan was "more stars than there are in heaven"—and soon became Hollywood's most prestigious film studio, producing popular musical films and winning many Academy Awards. MGM also owned film studios, movie lots, movie theaters and technical production facilities. Its most prosperous era, from 1926 to 1959, was bracketed by two productions of '' Ben Hur''. After that, it divested itself of the Loews movie theater chain, and, in the 1960s, diversified into television production. In 1969, Kirk Kerkorian bought 40% ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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