Dan Gilbert buys casino plot to ease Cavs pain

dan gilbertThe number 21. In blackjack that number is a sight for sore eyes, but to the Cleveland Cavaliers owner Dan Gilbert whose team has recorded 21 straight losses, watching his team play must be making his eyes sore.

Today, Gilbert made a move that may ease the pain of the embarassing season the Cavs are having. Gilbert’s development arm Rock Ohio Caesars Cleveland LLC, closed a deal with Cleveland’s Forest City Enterprises that will net the Cavs’ principal owner 16 acres of space as well as air rights next to Tower City. The land will be used to house Cleveland’s upcoming $600 million casino.

It’s clear now that Gilbert should have been thanking Lebron for all he did for the team and for Gilbert’s own business plans. Gilbert was able to leverage the success of the team to gain the rights to buy the plot. Now with the team sporting the worst record in the NBA and in the midst of 21 game losing streak, perhaps Gilbert should write another letter. This time it should be an apology letter to the Cleveland fans, for pretending to put a championship team around Lebron James and essentially driving him out of town.

Part of Gilbert’s casino could be ready for use in 2012, but the entire development is not set to be complete until mid-2013.

Perhaps, by then, the Cavs would have put together enough losing seasons to draft another King, who, after carrying the team on his back for few years, will also decide to take his talents elsewhere.