Columbia Sussex Could Face LitigationAs reported by the Belleville News Democrat: "Columbia Sussex Corp.'s withdrawal from a $57 million takeover deal of the bankrupt President Casino on the Admiral could result in breach of contract litigation.
"Columbia Sussex withdrew its application Tuesday afternoon for a gaming license in Missouri after becoming the winning bidder of the St. Louis casino's assets last October. Now, officials with the casino are reviewing legal options. "…President Casino spokesman and attorney Jon Sloane, of Cushman Amberg Communications Inc. in Clayton, Mo., said he did not want to speculate on the outcome or about potential future bidders. But he said Columbia Sussex's pullout ultimately could send the process back to square one. "…Despite the setback, Sloane said the riverboat casino remains profitable, continues to pay its employees and generates tax revenues for the city of St. Louis…" | 
