Seminole Tribe of Florida Suing Hard Rock Casino Developer

The Seminole Indian Tribe of Florida is trying to break an existing contract with a casino development company by accusing the developer of overcharging them millions of dollars.

Power Plant, the casino development group within the Cordish Company of Baltimore, is threatening to countersue the indian tribe for dishonest dealings.

The indian tribe says Power Plant is getting too many unnecessary royalties. Last year, the Seminoles indian tribe made $500 million in profit from its Hard Rock Hotel & Casino operations in Hollywood and Tampa, Florida.

The Seminoles pay Power Plant about $180 million annually for initially developing the project, and will pay about $2.2 billion during the life of the 10-year contract. They said Power Plant provides no services and want the company to return the $362 million it already received.

August 16, 2006
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com    Previous Page | Internet Gambling | Top Online Casinos | Submit News!