SEARCH NEWS:

 

Freemont Street Experience Sues Binion's Horseshoe over Dues

LAS VEGAS — The company that runs the Fremont Street Experience pedestrian mall on Wednesday filed a lawsuit in District Court against Binion's Horseshoe, charging the downtown hotel-casino with failure to pay $1.5 million in monthly assessments to the mall.

The lawsuit charges the Horseshoe with failing to make full and timely payment of monthly membership fees between 1998 and August 2001.

"Notwithstanding the (Fremont Street Experience's) repeated requests for payment, the Horseshoe has refused and continues to refuse to pay all monies due," the court filing noted.

Horseshoe owner Becky Binion Behnen, who acquired majority ownership of the property from brother Jack Binion in July 1998, did not return two Wednesday afternoon phone calls.

"We've been trying unsuccessfully for more than a year to collect the overdue amount," said Stephen Peek, Fremont Street Experience's lawyer.

Peek anticipated it would take as much as 18 months before the suit goes to trial, but said his client is prepared to negotiate with the Horseshoe to avoid court action.

"Our difficulty with the Horseshoe started when Becky Behnen acquired the property," Peek noted.

Fremont Street Experience President Mark Paris said in a statement that the mall's management board decided to sue only after funding shortfalls caused by the Horseshoe's failure to pay its dues caused the cancellation of three summer and fall events. The Experience board has seven voting members.

The Horseshoe, an original member of the Fremont Street Experience, is obligated to pay monthly assessments of $81,029 this year, the lawsuit noted. Assessments in past years were $78,739 in 2000 and $81,657 in 1999.

< Gaming News