Does Dan Gilbert Own Any Casinos? The Simple Answer Is No

As of 2026, Dan Gilbert does not own any casinos. The billionaire businessman and Cleveland Cavaliers owner completely sold his casino business in December 2020 when he transferred all ownership of JACK Entertainment to the company’s management team. This means Gilbert has zero casino properties under his name today, and he has not owned any gambling establishments for over five years.

Gilbert’s Casino History Before Selling Everything

Dan Gilbert once owned a major casino company called JACK Entertainment, which operated six gaming properties across four states in the Midwest. His original portfolio included Greektown Casino-Hotel in Detroit, Michigan, which he purchased in 2013 and held for more than five years before selling it in 2019 for $1 billion to Penn National Gaming. He also owned JACK Cleveland Casino in Ohio, which opened in 2012 after Gilbert pushed for over a decade to legalize casino gambling in the state. The business also operated JACK Cincinnati Casino and JACK Thistledown Racino in Ohio, plus Horseshoe Casino Baltimore in Maryland, giving him ownership of two of Ohio’s original four casinos when they first opened.

The Complete Timeline of Gilbert’s Casino Sales

Gilbert exited the casino industry through a series of carefully planned sales that took place over three years. In 2018, he announced his intention to sell JACK Entertainment and told Bloomberg News that casino giant Caesars Entertainment Corporation was one potential buyer for his six Midwest casinos. The first major sale happened in November 2019 when Penn National Gaming acquired Greektown Casino’s operating assets as part of a $1 billion deal. Then in 2019, Gilbert sold the real estate for JACK Cincinnati Casino and JACK Cleveland Casino to VICI Properties. Finally, in December 2020, the management team of JACK Entertainment purchased Gilbert’s remaining ownership stake, which the Ohio Casino Control Commission officially confirmed in January 2021.

What Number and Types of Casinos Did Gilbert Own

Dan Gilbert’s casino company owned and operated a total of six gaming facilities across four different states in the American Midwest. In Michigan, JACK Entertainment owned Greektown Casino-Hotel in Detroit, which was the only property in that state. In Ohio, the company operated two major casinos: JACK Cleveland Casino in downtown Cleveland and JACK Cincinnati Casino in Newport, plus JACK Thistledown Racino, which was a racetrack with slot machines near Cleveland. In Maryland, Gilbert’s company held partial ownership of Horseshoe Casino Baltimore. In Kentucky, the business also operated a racino facility. These properties employed over 1,600 workers at the Cleveland location alone, and Gilbert personally pushed through Ohio’s 2009 referendum that legalized casino gambling after a decade-long effort.

What Businesses Dan Gilbert Owns Today Instead of Casinos

While Gilbert no longer owns any casinos, he remains a powerful business leader with significant holdings in other industries. He is the co-founder, majority owner, and chairman of Rocket Mortgage, which is the largest mortgage lender in the United States. He also founded Rock Ventures, his investment company that businesses under one umbrella. In sports, Gilbert owns the Cleveland Cavaliers of the NBA, the Cleveland Charge of the NBA G League, and the Cleveland Monsters hockey team of the AHL. As of May 2025, Forbes estimated Gilbert’s net worth at $22.5 billion, making him the 88th richest person in the world, and he built this wealth primarily through loans and real estate rather than gambling.

Why Gilbert Decided to Sell All His Casinos

Dan Gilbert chose to sell his casino business because he wanted to cash in his casino chips during the sports betting boom and focus on other investment opportunities instead. In 2023, Bloomberg News reported that Gilbert was looking to sell his interests in six Midwest casinos as the sports betting frenzy created lucrative payout opportunities for casino owners. The gaming industry was changing rapidly with new laws, and Gilbert likely decided to take the money and run while casino values were high. His decision to divest gave him approximately $1 billion from the Greektown sale alone, freeing up capital for other ventures while avoiding the ongoing costs and regulatory challenges of running casinos in multiple states.

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