CasinoCityTimes.com

Gurus
News
Newsletter
Author Home Author Archives Search Articles Subscribe
Stay informed with the
NEW Casino City Times newsletter!
Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter!
Related Links
Related News
Recent Articles

Gaming Guru

Steve Green
 

Landlords allege Four Queens owner behind on rent

15 July 2009

LAS VEGAS, Nevada -- Downtown Las Vegas casino owner TLC Casino Enterprises has been sued by another group of landlords alleging it's behind on rent payments for its Four Queens hotel-casino.

The suit filed Friday brings to at least four the number of cases pending in Clark County District Court pitting TLC and its Four Queens and Binion's hotel-casinos against landlords.

Lawsuits filed this spring show TLC has been pressuring the landlords to lower their rent to help the casinos survive the recession that has reduced gaming revenue in downtown Las Vegas and other markets.

The latest suit was filed by Bogo L.C., Purkiss Family Trust, McCall Limited Liability Co., BD Forbes LLC and the Noblitt 2004 Trust. The landlords say they and their predecessors are parties to 50-year leases signed in 1983 for a portion of the Four Queens property.

The suit says an unspecified amount of rent is past due and that the Four Queens has failed to make the full rent payments since March.

The suit alleges breach of contract and unjust enrichment.

"Because defendants have intentionally failed to compensate plaintiffs in accordance with the lease agreement, defendants have breached their duty of good faith and fair dealing," the lawsuit charged.

While TLC has declined comment on the issue, its lawyers have responded in court in the previous lawsuits.

"The landlords have been unjustly enriched," TLC said in response to earlier lawsuits filed against it by different groups of Binion's and Four Queens landlords.

TLC has said in letters to the landlords that it has engaged a financial adviser and a New York land lease attorney to help it lower its rent costs.

Hearings are set for this month and in August on the landlords' motions that receivers be appointed to run the Four Queens and Binion's properties so that the receivers can pay the landlords the rent due under their contracts.