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Churchill Downs Suing AC Casino Executive Nicholas L. Ribis

Wednesday February 5,2014 :  U.S. RACING FIRM SUES FORMER ATLANTIC CITY CASINO EXEC
 
Churchill Downs wanted to launch an online gambling operation in New Jersey
 
The Kentucky horse racing group Churchill Downs claimed in a Louisville court this week that it was defrauded by Atlantic City casino executive Nicholas L. Ribis in a deal that would have allowed the racing company to launch an online gambling operation in New Jersey.
 
The publication WDRB reports that Churchill Downs claims Ribis "strung the company along" last year by leading it to believe that he was close to buying the Showboat Atlantic City Hotel and Casino from Caesars Entertainment Corp., which would have given Churchill entree to the New Jersey online gambling marker.
 
Ribis, however, failed to close the deal.
 
Churchill Downs Interactive Gaming's court submission shows that the company had planned to develop an internet gaming and online gambling system connected to Showboat.
 
Churchill paid Ribis' company NLR Entertainment LLC a $2.5 million "earnest money" deposit and was to pay Ribis' business an additional $7.5 million once the sale of Showboat closed no later than January 31, according to the complaint filed in Jefferson Circuit Court.
 
And Churchill spent $10 million to purchase intellectual property and to hire more than 20 engineers to develop the online gaming platform, the suit reveals.
 
Churchill seeks to recoup the $2.5 million deposit from Ribis and asks for unspecified damages to be determined at a trial.
 
Churchill spokeswoman Courtney Norris declined to comment due to the launch of litigation.
 
WDRB reports that although it was unable to find a contact number for Ribis, his name has in the past been associated in a management capacity with various US gambling concerns, including the Atlantic Club Casino Hotel; the Atlantic City Hilton Casino Resort; Resorts Atlantic City: and Trump Hotels & Casino Resorts Inc.



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Tim Chung Wins MPNPT Manchester - The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.

MPNPT Manchester Day 2 - Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.

Day 1B MPN Poker Tour Manchester - Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.

Day 1A MPNPT Manchester - The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days

Kung Fu Rooster Slot Goes Live - Celebrate Chinese New Year - 2017 Year of the Rooster. It's time to sweep away any ill-fortune and make way for incoming good luck, with this exciting 12 lines slot game.

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3 New Betsoft Slots - 3 new Betsoft slot Games were also added this week to most online casinos allowing US players.

2017 Bodog Super Millions Poker Open - The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.

Pokerstars Pulls Out Of Coloumbia - Pokerstars Has taken the decision to cease offering real money services to players located in, playing from or resident within Colombia, effective from the 17th of July 2017.

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