Cleveland Cavaliers owner Dan Gilbert, founder and owner of JACK Entertainment, sold the casino company to its management team in December, the Cleveland Jewish News has learned.

“As of December 2020, JACK Entertainment’s ownership has changed and no longer has any affiliation with Dan Gilbert’s family of companies,” Matthew P. Cullen, board chairman, said in a Jan. 15 statement emailed to the CJN, in which he also revealed that JACK Entertainment has moved its offices to Cleveland from Detroit.

Cullen did not disclose the terms of the sale of JACK, a developer and owner of casinos with 1,400 team members according to its website, 16 bars and restaurants, 150,000 square feet of gaming space generating between $400 million and $500 million in annual revenues.

JACK Entertainment operates JACK Cleveland Casino downtown and JACK Thistledown Racino in North Randall in a lease-back with VICI Properties.