Gaming News

St. Tropez Casino Cruises Approved for Loan

FLORIDA – As reported by the South Florida Sun-Sentinel: "St. Tropez Casino Cruises won bankruptcy court approval on Monday for a $500,000 loan, some of which will be used to pay tips owed dealers who had flirted with boycotting the ship's sailing this past weekend.

"The casino ship has been in Chapter 11 bankruptcy since February, and under the control of a court-appointed trustee since May 11.

"Dealers of blackjack, poker and other betting games said they were owed between $50,000 and $80,000 from tips earned in April and early May. When the ship's employees were issued checks for back pay last week, the tip amounts were not covered.

"…At a hearing, an attorney for Welt told U.S. Bankruptcy Judge Paul Hyman that the $500,000 loan should fund major expenses for St. Tropez until July. The time will be used to find a buyer for the business or for Welt to develop a plan to repay the creditors…"

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