Casinos news

Judge Walter Shapero Approves Loan For Greektown Casino Contractors

On June 4th, 2008, contractors at the Greektown Casino facility will get received their payment this week, solving a massive work stoppage at the casino site and project shutdown after months of not receiving payment. U.S. Bankruptcy Court Judge Walter Shapero was expected to approve an order that will release a $51.3 million loan which includes the $44.9 million payment to the contractors through the month of June.

James Jenkins, the president of Jenkins Construction and a partner in Jenkins Skanska, the general contractor for the expansion project of the Greektown Casino said that they have averted a massive crisis from breaking out. The state's Gambling Control Board will also convene to finalize the financial package for the casino.

Judge Shapero initially said to the lawyers of Greektown that he intends to write the order next week, allowing all concerned parties to study the terms of the loan, which set off alarm all over the courtroom. The contractors for the

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