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The Iowa Court of Appeals overturned a 2007 verdict awarding Signature Management Group $10 million after he sued Wild Rose Entertainment for backing out of an agreement to manage the Wild Rose Casino and Hotel in Emmetsburg.
On Wednesday a three judge panel ruled in favor of Wild Rose Entertainment on the grounds that the contract between the companies was written to “enter into an exclusive management agreement” at a later date.
In 2004 the companies joined forces hoping to open casinos in Iowa. The court papers alleged that the pair entered into an agreement concerning the proposed casinos in Ottumwa and Emmetsburg.
The Ottumwa project failed when the Iowa Racing and Gaming Commission refused to grant a gaming license to the partnership.
Wild Rose argued that they did not enter into a contract to manage the Emmetsburg facility.
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