Miami Casino Seeks Ch. 11 Shelter After $87M Default

Law360, New York (August 20, 2013, 1:50 PM EDT) -- Florida Gaming Corp. on Monday blamed the lender of an $87 million loan for its Chapter 11 bankruptcy, alleging that the cash that helped build a new casino came at the price of a series of debilitating defaults and “relentless” attempts by the lender to take over the casino.

The bankruptcy petition comes less than two years after FGC opened its $87 million Casino Miami Jai-Alai, an expansion that was expected to resuscitate its stake in Miami's once booming jai-alai scene by pairing the game with...
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