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Florida Gaming is in danger of losing control of its Fort Pierce Jai-Alai & Poker facility, after defaulting on loan.
In December, Florida Gaming defaulted on a $3 million loan from Isle of Capri Casinos. The loan was primarily being used to upgrade the companies Miami based fronton to include slot machines.
Isle of Capri has filed a lawsuit in the Palm Beach County Courts, seeking control of the company’s Fort Pierce Jai-Alai facility and over $350 thousand dollars in damages for unpaid fees for simulcast horse races.
In January the Fort Pierce Jai-Alai announced that they would stop offering harness racing simulcast, while simulcast jai-alai, greyhound racing and thoroughbred racing would remain.
A foreclosure lawsuit has also been filed in St. Lucie County, targeting the building that houses Fort Pierce Jai-Alai.
According to a SEC filing by Florida Gaming, they plan to answer to the complaint and fight the pending seizure.
Isle of Capri Casinos, attorney Gary C. Rosen, said that Miami Jai-Alai was not included in the lawsuit and that his clients were prepared to take over operations of the Fort Pierce fronton.
Isle of Capri owns 15 casinos in Missouri, Mississippi, Louisiana, Colorado, Iowa and Florida, including Isle Casino & Racing at Pompano Park.
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