The Louisiana casino and an Alabama Indian Tribe decided to end the merger talks because one of the requirements could not be met.
US.- The Margaritaville Resort-Casino announced along with the Wind Creek tribe from Alabama that they ended the plans to merge because one of the requirements established that the casino would’ve been operated by the tribe, but a later dispute settled the case that ended with a joint news release.
As reported by KTBS, both parties announced the news on Monday morning, after almost a year after the news of the purchase was revealed. The Margaritaville facility would’ve been the first Indian-owned gambling venue in the Shreveport, Louisiana market. The dispute over the US$335 million casino started after the company that currently operates the casino, Bossier Casino Venture (BCV), clashed with the owner over the license fees payments. The Poarch Band of Creek Indians said that when they intended to buy the casino, they thought that it was free of any licensing obligations.
Court documents showed that BCV has paid Margaritaville and that the only obligations the company had were related to license fees plus interest, so there was no more obligations to make future payments. “BCV is pleased to have satisfied in full its financial obligation to Margaritaville and to continue using the Margaritaville brand without further financial obligation for future license fee payments. BCV is committed to continuing to provide a first-class gaming and entertainment experience to its loyal customers under the Margaritaville brand,” said Paul Alanis, CEO of BVC, as said by KTBS.