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Report: Jack Entertainment chairman to exit casino business

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Report: Jack Entertainment chairman to exit casino business

Dan Gilbert, chairman of gaming and hospitality company Jack Entertainment LLC, is said to be considering an exit from the casino business, Bloomberg News reported Sept. 5, citing sources familiar with the plans.

Gilbert's exit plan reportedly includes Jack Entertainment properties in Cleveland, Cincinnati and Detroit.

The sources told Bloomberg that Deutsche Bank and Credit Suisse are representing Jack Entertainment in the sale process.

Las Vegas-based Caesars Entertainment Corp. is among the potential bidders that have expressed interest in some of the properties, the report said.

Jack Entertainment, which was formerly known as Rock Gaming LLC, declined to comment on the matter, Bloomberg reported.

Gilbert is the founder of mortgage lending company Quicken Loans Inc. and co-owns the National Basketball Association Inc.'s Cleveland Cavaliers.