Binion's Gambling Hall News - Page 6

The troubled sale of the Binion's Horseshoe remained mired in more legal maneuvering throughout Tuesday, apparently further complicated by a District Court judge's decision to order a new auction for a tract of land underneath the historic hotel-casino.

A Clark County District Court judge this morning set aside Friday's probate sale of a parcel underneath the closed Binion's Horseshoe hotel-casino in downtown Las Vegas.

Lawyers were scrambling late Friday night to salvage the proposed sale of Binion's Horseshoe to MTR Gaming Group and the World Series of Poker to Harrah's Entertainment.

The sale of Binion's Horseshoe to West Virginia-based MTR Gaming Group is expected to close Tuesday despite a last-minute $1.805 million bid on a small piece of property underneath the Fremont Street property, a Harrah's Entertainment Inc. spokesman said Sunday.

The World Series of Poker will be played downtown in 2005 after Harrah's Entertainment Inc. agreed to keep the world's top poker tournament at Binion's Horseshoe for at least one extra year beyond this year's event.

Meeting in back-to-back emergency sessions, Nevada's gaming regulators late Wednesday approved the sale of Binion's Horseshoe to MTR Gaming Group, subject to 10 conditions.

Thanks to pent-up demand for workers in the gaming industry, major casino companies are snatching up former Binion's Horseshoe and Castaways workers, even as the proposed sales and reopening of the properties are progressing.

Owners of the land under Binion's Horseshoe are refusing to go along with the proposed sale of the hotel-casino to MTR Gaming Group.

n the complicated deal surrounding Binion’s Horseshoe, MTR Gaming Group would buy the property, but Harrah's Entertainment would operate it initially as soon as March.

In the end, Binion's Horseshoe in downtown Las Vegas is being sold not to Harrah's Entertainment, but to MTR Gaming Group.

Binion's Horseshoe workers are crying foul over demands they sign a general release against the company in return for limited repayments of medical expenditures.

A national emergency program that has been used to help hundreds of former Binion's Horseshoe employees is ending, but another 400 out-of-work casino workers will still be eligible for help, a Nevada Partners official said.

Binion's Horseshoe and its owner are being investigated by the U.S. Department of Labor for possible violations of federal law involving $2.5 million in unpaid worker health insurance claims.

The reopening of Binion's Horseshoe in downtown Las Vegas is not expected to be delayed by asbestos concerns, an official with Harrah's Entertainment Inc. said Thursday.

Asbestos materials lacing Binion's Horseshoe could further delay its sale and reopening as well as slow and add substantial costs to any renovation or redevelopment of the downtown property.

Hundreds of Binion's Horseshoe former workers may have to pay millions in unpaid medical bills even though the gaming company deducted medical insurance premiums from their paychecks.

Harrah's Entertainment Inc. today said it signed a definitive agreement to purchase Binion's Horseshoe in downtown Las Vegas and is working to re-open the historic hotel-casino.

While executives continued talks Monday to complete Harrah's $50 million deal to buy Binion's Horseshoe, more than 200 of the closed casino's workers sought assistance from Nevada Partners and the Culinary Training Academy.

Becky Binion Behnen's 5 1/2-year stint as owner of Binion's Horseshoe was a disaster, industry experts agreed.