No Deposit Bonus : SlotsLv casino currently is offering everyone a $22 no deposit bonus. New Players Only. Fully Cashable. USA and Canadian Players are welcome. Please see our SlotsLv review page for the no deposit bonus info. SlotsLv Review
Best USA Casino Bonus
Big Casino Bonus : All USA Players Welcome: Bovada Casino the #1 USA Online Casino offering all new signups a $3000 table game and slots bonus + weekly cash back. All new accounts qualify thru our link. No codes needed. For full bonus information please see our Bovada Bonus review.
Casino developer Fontainebleau Las Vegas Sues Banks For 3 Billion
A Las Vegas casino resort developer is taking on major US banks in a multi-billion dollar legal suit against a decision to renege on $800 million in prearranged funding.
Fontainebleau Las Vegas LLC, which is developing a major casino resort on the Las Vegas Strip, has launched the $3 billion lawsuit against some of the world's top banks, including the Bank of America, Merrill Lynch, JPMorgan Chase, Barclays, Royal Bank of Scotland, Sumitomo Mitsui, and Deutsche Bank. Fontainebleau claims the banks and other lenders unjustifiably backtracked on their contractual commitments to provide the company with almost $ 800 million in prearranged funding.
The lawsuit makes particular note of the fact that Bank of America, JP Morgan Chase and certain other lenders involved in the lawsuit received tens of billions of dollars in federal bailout money that was meant to increase the flow of credit to businesses such as Fontainebleau.
The legal papers filed this week in the District Court of Clark County, Nevada do not mince words: “This case arises from the breach by a group of unscrupulous banks of their clear and unequivocal written promise to Fontainebleau to finance the construction of its casino-resort, a promise in exchange for which the Banks have already secured for themselves tens of millions of dollars in fees,” it charges.
And on Friday a public statement issued by Fontainbleau was equally hard-hitting, accusing the banks of misconduct which was "....calculated, intentional and malicious."
The statement continued: "Defendants abandoned their lending commitments solely to try to extricate themselves from a loan they no longer wish to make, notwithstanding that those commitments are clear, unequivocal, and binding, and that Fontainebleu and thousands of employees and their families are relying on those commitments to be performed.”
The banks apparently notified Fontainebleau on Monday that they had unilaterally “terminated” their commitments under an $ 800 million revolver loan, the company revealed, claiming that this unexpected action was “....ostensibly based on ‘one or more’ unspecified ‘Events of Default,’ but without outlining any detail or specifics."
According to the lawsuit, “In fact, there has been no Event of Default, and there is no contractual basis whatsoever for the Revolver Banks’ breach of their clear and unambiguous obligations. The purported termination is nothing more than the banks’ baseless attempt to walk away from the Project and abandon their obligations.”
The $800 million loan is in addition to more than $2 billion in debt and equity that Fontainebleau has already borrowed and invested to build what is expected to be a new landmark casino-resort on the Las Vegas Strip.
The company says that the banks' “brazen breach of contract” endangers the developer's ability to complete its casino-resort.
The project, situated diagonally opposite Circus Circus, is more than 70 percent completed, and failure at this point will cause massive harm to both the project and the local economy, says Fontainbleau, with the jobs of 3 300 construction workers and an additional 1 700 workers in the final stages of the construction placed at risk. The new casino-resort is also scheduled to employ some 6 000 locals, and these jobs, too, could be placed in peril. Damage to construction suppliers and contractors would also inevitably flow from a failure to complete.
Fontainebleu is partly owned by Australia's gambling entrepreneur James Packer through his Crown Casinos firm, which has invested $250 million in Fontainebleu and holds a 19.60 percent interest in the developer.
USA Online Gamblers. The Best Online Casino with the fastest payouts and highest bonus. Get your Exclusive Bovada Bonus Code now. Up to $4250 in free sign up bonuses. Dont miss out on this limited time special offer.Online Poker, Online Casino and Online SPorts betting all included in this exclusive Bovada Bonus.
PlaySugarHouse To Carry Konami Content -
Content provider Konami will provide its Gypsy Fire and Fortune Stacks slot games to Rush Street Interactive-operated PlaySugarHouse.com on an exclusive basis in the New Jersey real-money online and mobile wagering market.
ITF TERMINATES BETWAY SPONSORSHIP DEAL -
The International Tennis Federation (ITF) has reportedly terminated Betway’s three-year sponsorship partnership as an extension to their anti-match fixing and sports integrity policy.
GSA To Launch European division -
The expansion enables the GSA to better focus on the regional needs of its members outside of North America and underscores its recognition and commitment to growing European membership.
Paddy Power Trading Update -
Company prevails despite adverse sports and US election results; Trump success cost the group GBP 5 million, whilst punter successes took another GBP 40 million in Q4-2016.
Tabcorp SunBets project -
The details were revealed this week in an IT News article quoting Tabcorp's chief information officer, Kim Wenn, who described the SunBets project as Tabcorp's biggest global venture yet.
China Lottery Sales Up in 2016 -
The Chinese official news agency Xinghua reports that according to figures from the Ministry of Finance released Monday, Chinese lottery sales in 2016 rose 7.3 percent year-on-year to 394.64 billion yuan (about US$57.53 billion).
New chairman and a new director for 500.com -
Chinese online lottery operator 500.com has announced major executive changes to the company with the apparently amicable departure of director and chairman Man San Law, as well as director Weiguo Zhao from its board of directors, effective January 20, 2017.
Please Note : Gambing might not be legal in your area. We bring you www.recentpoker.com as an information and gambling news site only. We hope that you find all the information and gambling news found in www.recentpoker.com to your liking. Please tell your friends about us and visit us again soon.