Marian Ilitch best known as one of the co-founder of the Little Caesars Pizza chain and Vice-Chairman of Ilitch Holdings which owns the Detroit Red Wings hockey team and the Detroit Tigers baseball team has signed an agreement to purchase the MotorCity Casino Detroit from Mandalay Resort Group for $525 million.

When the purchase of MotorCity is completed Mrs. Ilitch will be the sole owner of the casino since Major League Baseball regulations prohibit a MLB team owner from owning any interest in any casinos her husband Mike Ilitch who is an executive with Ilitch Holdings and the Detroit Tigers is prohibited from the purchase or ownership of a casino. Marian Ilitch on the other hand is a Non-Executive Director which means although she owns part of Ilitch Holdings she is not an executive of the company and thus is not subject to that Major League Baseball regulation. The National Hockey League currently does not have any regulations prohibiting an owner(s) from owning or operating a casino.

Mandalay Resort Group and Marian Ilitch will close the purchase of the MotorCity Casino Detroit on or before March 31st which is the day that MGM Mirage completes it's acquition of Mandalay Resort Group and is required under Michigan law to dispose of one of the two casinos that they own.

Article from the Detroit News:
http://www.detnews.com/2005/casinonews/0503/16/A01-119009.htm

We now return you to your regularly scheduled chip chat already in progress.

== Rick Schwarz R-5723 ==