Dan Gilbert has sold his remaining interest in a casino company now based in Cleveland and controlled by former Bedrock executives.
The billionaire founder and chairman of Rock Ventures sold his remaining interest in Jack Entertainment in December, said Aaron Walker, chief communications officer for Rock Ventures.
“In December 2020, Dan Gilbert divested his interest in the Cleveland Jack Entertainment Casino, which is reflective of Dan’s positioning to pivot away from the casino industry in general,” Walker said in an email.
Gilbert still has a “small, passive interest” in Horseshoe Casino Baltimore, Walker said.
Cullen left Bedrock this past summer along with Mark Dunkeson, who was Bedrock’s president and COO, to lead Jack Entertainment, the parent company of Jack Casino and Jack Thistledown. Cullen is principal and chairman of Jack Entertainment and remains based in the Detroit area, according to the company website. Dunkeson is principal and CEO.
Crain’s left messages with Cullen seeking comment and emailed questions to a Jack Entertainment spokeswoman.
The Jack management team now owns the controlling interest in Jack Entertainment, Cullen told the Cleveland Jewish News in a Saturday report. The company employs 1,400 and generates $500 million in annual revenue, according to the company website.
Jack Entertainment’s base in Detroit was disbanded in 2019 with Gilbert’s $1 billion sale of Greektown Casino-Hotel. He sold his Jack Cincinnati casino and horseracing track Turfway Park in Kentucky around the same time.
“Moving forward, Dan and Jennifer Gilbert are focusing their energy and resources on the Gilbert Family Foundation and other projects that highlight their passion for Detroit and the cities the Rock Family of Companies calls home,” Walker said.