Gaming News

Trustee Named to Florida Casino Boat

FLORIDA – As reported by the South Florida Sun-Sentinel: "A judge has named a trustee to run St. Tropez Casino Cruises because the line was burning through its available cash.

"The cruise line provides gambling-intensive day cruises from Port Everglades. In mid-February, its parent company, Florida Entertainment LLC, sought protection from creditors under Chapter 11 of the bankruptcy laws.

"Twice-daily cruises are continuing. But on May 11, federal bankruptcy court judge Paul Hyman decided to oust management and agreed to the motion filed by several parties in the bankruptcy to appoint a trustee.

"Hyman picked Kenneth Welt, of Hollywood, to take over operations while pursuing either a sale or a financial reorganization. The trustee's first move was to win approval for an additional $150,000 loan for working capital.

"About 185 employees who went unpaid for work in April will get checks today, Welt said…"

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