Deals
Billionaire Gilbert Is Said to Be Looking to Cash Out of Casinos
- Downtown properties were part of an urban revival strategy
- Former partner Caesars is said to be among interested parties
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Quicken Loans Inc. founder Dan Gilbert is looking to exit the casino business, including properties in Cleveland, Cincinnati and Detroit, according to people familiar with his plans.
Deutsche Bank and Credit Suisse are representing Gilbert’s casino company in the sale process, and Caesars Entertainment Corp. is among the possible bidders that have expressed interest in some properties, said the people, who asked not to be identified because the discussions are private. Representatives for both banks and Caesars declined to comment.