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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.



Gambling News :

NHL Odds: Lightning go for Season Sweep Over Red Wings - The Tampa Bay Lightning (37-29-9) have been doing everything possible to make a fourth straight appearance in the Stanley Cup Playoffs. Without star centre Steven Stamkos, Nikita Kucherov (38 goals, 40 assists) and Victor Hedman (15 goals, 47 assists) have stepped up and will look to continue their strong play against the Wings. Game time is 7:30 PM ET on FS-D.

MPN Charity Poker Tournament at ICE 2017 - During what was a busy three-days for Microgaming at ICE Totally Gaming 2017, the MPN team enjoyed a charity poker tournament with Microgaming operators on Tuesday 7 February.

US$30M DUBAI WORLD CUP - Racecourse Media Group and Meydan to showcase world’s richest raceday to more than 150 territories The Dubai World Cup is the first horse race to be broadcast live on airlines and cruise lines

NHL Odds: Forsberg Faces Elliott in Nashville - The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.

Sit & Go 2.0 launched online exclusively at Americas Cardroom - Get ready to cheer like a champion before the first flop is even dealt. The much-anticipated Sit & Go 2.0 is now launched online exclusively at Americas Cardroom and Sit & Go players are reaping the benefits of the next evolution of poker.

NBA Odds: Hawks, Wiz in Southeast Showdown - The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.

Mega Moolah progressive jackpot Hit Again - Microgaming’s Mega Moolah progressive jackpot slot has been hit yet again at just over €6.6 million!

NBA Odds: Clippers Try to Slow Down Bucks in LA - Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.

NCAAB Odds: SMU Hosts Tulsa With AAC Title on the Line - There aren’t too many college basketball teams more profitable than the SMU Mustangs (25-4 SU, 18-5-1 ATS). They host the Tulsa Golden Hurricane (14-14 SU, 15-12 ATS) this Thursday night, tipping off at 8 PM ET on CBSSN.

NHL Odds: Canadiens Welcome Islanders Tonight - The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.

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