Miami Casino Sells For $155M In Ch. 11 Auction

Law360, Miami (March 26, 2014, 6:33 PM EDT) -- Lead creditor ABC Funding LLC came out on top with an offer totaling $155 million in a bankruptcy auction for the assets of Casino Miami Jai-Alai's owner Florida Gaming Centers Inc., the debtors informed a Miami bankruptcy court on Wednesday.

ABC's offer, made through an entity called Fronton Holdings LLC, represented a significant increase over a $129 million price tag put on the company in a stock purchase agreement it had agreed to last year before filing for Chapter 11 on the eve of the closing...
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