Tribal gaming authority ordered to pay investors nearly $89 million in failed casino deal

The Kewadin Casinos Gaming Authority lost in court on Thursday in a nearly decade-long dispute with a former investor.

Authority operating under Sault Ste. The Murray of Chippewa Indians were ordered by an Ingham County Circuit Court Judge to pay a group of investors approximately $89 million.

Attorney Dennis Ybold, a member of the investor group, said the lawsuit was filed after contracts with gaming authorities to build new casinos in Metro Detroit and Lansing collapsed. It is said that it was the result of not being able to submit the documents requested by the Bureau of Indian Affairs.

“The judge’s ruling is exactly what we’ve been telling the tribes, and their attorneys, and their officials,” Ibold said. , Y, Z, and if I only chose X and Y instead of Z, do you think the reviewing agency would approve my application?

The judge in the case ordered the Gaming Authority to pay a group of investors $88.88 million. This amount included his original investment of $8.8 million, plus any profits the group would have made after the casino went live.

Ibold said the Gaming Authority has appealed many unfavorable decisions in lengthy lawsuits in the past and lost them all, and he fully expects to appeal again this time.

A lawyer for Gaming Authority declined to comment.

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