Dan Gilbert Sells JACK Entertainment

(Cleveland) - Cleveland Cavaliers owner Dan Gilbert has quietly gotten out of the casino business, one that he pushed for in Ohio. Gilbert has sold his shares of JACK Entertainment, which operates Cleveland's downtown JACK Casino, and JACK Thistledown Racino in North Randall.

JACK Entertainment issued this statement: “In December 2020, the JACK Entertainment management team, led by Matt Cullen and Mark Dunkeson, completed the acquisition of all of Dan Gilbert’s shares in the company, having purchased a controlling interest in the company earlier in the year. The JACK management team, who have been with the company since its inception, will remain in place.

“Matt Cullen will continue to serve as chairman of the board and Mark Dunkeson will continue his role as chief executive officer. Over the past year, JACK has relocated its home office team to be headquartered in Cleveland, making JACK the only Ohio-based gaming operator across the state’s 11 gaming properties. This hands-on leadership positions the company well for future growth.”

Gilbert pushed for legalization of casino gambling in Ohio, and his company owned two of the state's four casinos, in Cleveland and Cincinnati. They originally were known as Horseshoe, in a partnership with Caesars. When Gilbert took over operation, JACK Entertainment was created. JACK sold the Cincinnati casino to VICI Properties, which also took over ownership of the Cleveland properties a year ago, while JACK continued to operate the Cleveland operations.

(Photo by Ken Robinson, WTAM)

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