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Greektown Casino Sues Original Investor

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Greektown Casino in Detroit has filed a $7 million civil suit against original investor Dimitrios Papas. The Detroit News reports Tuesday that the suit claims at least $1.5 million in unpaid gambling debts. The suit was filed last week in Wayne County Circuit Court. It claims the casino could not collect Papas’ gambling debts because his checking account had “insufficient funds.”

Papas’ wagering line of credit began in 2000 after he sold his stake in the casino.

He tells the newspaper the lawsuit is “baseless.”

Papas’ attorney says casino owners owe him up to $12 million, which can’t be recovered because Greektown filed bankruptcy.

The casino recently exited bankruptcy.

Information from: The Detroit News, http://detnews.com/

(Copyright 2010 by The Associated Press.  All Rights Reserved.)

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