MGM Grand Bids on Executive Plaza Building

LANSING-The state of Michigan is selling its old Executive Plaza Building on 6th Street in Detroit to the MGM Grand Detroit Casino. On April 12, the MGM bid $12.5 million for the building, surprising many who believed its CEO, John Redmond, who told reporters the night before the deal was consummated that the casino management had made no decision about changing venue.

MGM, along with the Greektown and MotorCity casinos, is required by the city to build more lavish properties, and speculation had long been that MGM might be eying the facility as a permanent location. Even though MGM and the state are still negotiating, since MGM was the sole bidder, the state must accept the bid.