Post by HoneyBadger on Sept 14, 2011 6:55:54 GMT -5
Posted: Wednesday, September 14, 2011 12:02 am
BY JARRAD HEDES
Times Staff Writer
Several investors in an Adams County casino project rejected by the state gaming control board in April are asking a county judge to allow them to withdraw from a partnership with Mason-Dixon Resorts and Florida lawyer Joseph Lashinger or lift a restriction prohibiting them from pursuing other gaming opportunities.
In a lawsuit filed Sept. 8 in Adams County Court, the "LeVan Limited Partners," which includes Adams County residents David LeVan, Bernard Yannetti and Michael Jackson, said if a judge does not dissolve the partnership, "Lashinger can maintain it as a shell indefinitely and preclude members of the LeVan Limited Partners from ever pursuing other gaming ventures regardless of whether they would compete with Mason-Dixon Resorts."
LeVan, Lashinger and the other partners sought to convert the 300-room Eisenhower Inn in Cumberland Township into a $75 million casino resort, with 600 slot machines and 50 table games.
"I really can't comment and am not authorized to comment on what is in the complaint," John White, attorney for the LeVan Limited Partners, said in a phone message on Tuesday.
According to the partnership agreement between the LeVan Limited Partners and Mason-Dixon Resorts, nobody in the group could pursue the acquisition, development or management of a new or existing gaming project in Adams, Franklin, Cumberland or York counties in Pennsylvania, or Frederick or Carroll counties in Maryland.
No other Category Three license may become available in Pennsylvania until July 17, 2017.
Lashinger, on July 15, rejected a request by the partners to be released from those restrictions or to withdraw from the Mason-Dixon group.
LeVan and the other partners "lack the votes" to remove Lashinger if they believe he is acting inappropriately.
According to the lawsuit, Lashinger controls 76.8 percent of the votes of the partnership while the LeVan Family Partnership holds 20 percent of the votes and LeVan himself with the remaining 3.2 percent.
LeVan and his partners, according to the lawsuit, were also upset that Lashinger appealed the gaming board's decision to award a Category Three resort casino license to the Nemacolin Resort in Fayette County.
"The LeVan Limited Partners voiced serious concerns to Lashinger regarding the appeal...including that they did not believe the appeal could succeed and they believed the continued association with Mason-Dixon Resorts would tarnish their reputation with the gaming board and community, thus harming their prospects for a Category One, Two or Three gaming license should one become available in Adams County or elsewhere," wrote White, in the lawsuit.
White cited a magazine and newspaper article where LeVan felt the authors misunderstood his role in the filing of the appeal. LeVan wrote Lashinger on Sep. 2 asking him to issue a press release stating he had nothing to do with the appeal but Lashinger had not responded as of Thursday.
The Pennsylvania Supreme Court has yet to overturn any of the gaming board's licensing decisions.
According to the lawsuit, LeVan and his partners feel that even if Mason-Dixon is successful on its appeal, the group could not proceed with the project because they will lose access to the sole source of financing for the casino, from the Delvest Corporation, on Dec. 31, 2011. Mason-Dixon had until July 31, 2011 to purchase a 29-acre piece of land from Ernest and Linda Shriver without which, the lawsuit states, the partners could not draw adequate water for the project.
Its option agreement to purchase the property at the Eisenhower Inn and Conference Center also expires on May 8, 2012.
"Even though the partnership has no operations, no sources of revenue and no prospects for either, its continued existence unreasonably and oppressively ties the hands of its powerless partners," the lawsuit states.
LeVan and Lashinger did not return calls for comment on the lawsuit.
BY JARRAD HEDES
Times Staff Writer
Several investors in an Adams County casino project rejected by the state gaming control board in April are asking a county judge to allow them to withdraw from a partnership with Mason-Dixon Resorts and Florida lawyer Joseph Lashinger or lift a restriction prohibiting them from pursuing other gaming opportunities.
In a lawsuit filed Sept. 8 in Adams County Court, the "LeVan Limited Partners," which includes Adams County residents David LeVan, Bernard Yannetti and Michael Jackson, said if a judge does not dissolve the partnership, "Lashinger can maintain it as a shell indefinitely and preclude members of the LeVan Limited Partners from ever pursuing other gaming ventures regardless of whether they would compete with Mason-Dixon Resorts."
LeVan, Lashinger and the other partners sought to convert the 300-room Eisenhower Inn in Cumberland Township into a $75 million casino resort, with 600 slot machines and 50 table games.
"I really can't comment and am not authorized to comment on what is in the complaint," John White, attorney for the LeVan Limited Partners, said in a phone message on Tuesday.
According to the partnership agreement between the LeVan Limited Partners and Mason-Dixon Resorts, nobody in the group could pursue the acquisition, development or management of a new or existing gaming project in Adams, Franklin, Cumberland or York counties in Pennsylvania, or Frederick or Carroll counties in Maryland.
No other Category Three license may become available in Pennsylvania until July 17, 2017.
Lashinger, on July 15, rejected a request by the partners to be released from those restrictions or to withdraw from the Mason-Dixon group.
LeVan and the other partners "lack the votes" to remove Lashinger if they believe he is acting inappropriately.
According to the lawsuit, Lashinger controls 76.8 percent of the votes of the partnership while the LeVan Family Partnership holds 20 percent of the votes and LeVan himself with the remaining 3.2 percent.
LeVan and his partners, according to the lawsuit, were also upset that Lashinger appealed the gaming board's decision to award a Category Three resort casino license to the Nemacolin Resort in Fayette County.
"The LeVan Limited Partners voiced serious concerns to Lashinger regarding the appeal...including that they did not believe the appeal could succeed and they believed the continued association with Mason-Dixon Resorts would tarnish their reputation with the gaming board and community, thus harming their prospects for a Category One, Two or Three gaming license should one become available in Adams County or elsewhere," wrote White, in the lawsuit.
White cited a magazine and newspaper article where LeVan felt the authors misunderstood his role in the filing of the appeal. LeVan wrote Lashinger on Sep. 2 asking him to issue a press release stating he had nothing to do with the appeal but Lashinger had not responded as of Thursday.
The Pennsylvania Supreme Court has yet to overturn any of the gaming board's licensing decisions.
According to the lawsuit, LeVan and his partners feel that even if Mason-Dixon is successful on its appeal, the group could not proceed with the project because they will lose access to the sole source of financing for the casino, from the Delvest Corporation, on Dec. 31, 2011. Mason-Dixon had until July 31, 2011 to purchase a 29-acre piece of land from Ernest and Linda Shriver without which, the lawsuit states, the partners could not draw adequate water for the project.
Its option agreement to purchase the property at the Eisenhower Inn and Conference Center also expires on May 8, 2012.
"Even though the partnership has no operations, no sources of revenue and no prospects for either, its continued existence unreasonably and oppressively ties the hands of its powerless partners," the lawsuit states.
LeVan and Lashinger did not return calls for comment on the lawsuit.
How full of water does his boat needs to be before he abandons ship? 
