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HOME > NEWS > Investor News > Failed casino project partners file for bankruptcy

Failed casino project partners file for bankruptcy

2 April 2014

PHILADELPHIA -- The partnership, Philadelphia Entertainment and Development Partners, responsible for a Foxwoods Casino plan, which fell flat, have filed for bankruptcy, according to a Philadelphia Inquirer report.

The partnership had been awarded a slot-parlour licence, which was subsequently revoked because of delays and funding dilemmas, the report said.

The partnership consisted of 13 local investors and the Mashantucket Pequot tribe of Connecticut, who hope now to reclaim the $50 million licence fee through bankruptcy action and the courts, the Philadelphia Inquirer report said.

 
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