Buyer's Financial Record Still has Casino Bid Shaky

Gambling mogul William J. Yung, the man who wants to buy the Casino Queen in East St. Louis for $200 million, knows how to run a lean operation. He also knows how to play hardball. As president and CEO of the Columbia-Sussex Corp., of Fort Mitchell, Ky., Yung has stirred up the gambling industry because of a $4 billion spending spree that has made him one of the biggest private casino owners in the land.

But questions about Yung's business practices have been raised in two lawsuits: one in Nevada, the other in St. Louis. The first lawsuit, filed late last year in a state court in Minden, Nev., accuses a Columbia-Sussex subsidiary of breaching its lease of the 539-room Horizon Casino Resort because of poor maintenance, resulting in health and safety concerns. The second lawsuit, filed in January in U.S. Bankruptcy Court in St. Louis, accuses Columbia-Sussex of commit-ting extortion to resolve a business dispute.

June 13, 2006
Posted By Bob Hartman
Staff Editor, CasinoGamblingWeb.com    Previous Page | Internet Gambling | Top Online Casinos | Submit News!