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Article: Las Vegas Recreation Facility Hits Financial Crisis.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- July 13, 2002
CopyrightCOPYRIGHT 2002 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Chris Jones, Las Vegas Review-Journal Knight Ridder/Tribune Business News
Jul. 13--The parent company of the Las Vegas Sportspark has filed a voluntary petition seeking Chapter 11 protection in U.S. District Bankruptcy Court, marking the latest in a series of political and financial problems associated with the star-crossed Northwest Las Vegas recreation center.
Since it was first proposed to city leaders in late 1996, the $5 million facility has been linked to allegations of corporate welfare and an ethics scandal involving Las Vegas City Councilman Michael McDonald.
This time, however, the park's poor financial performance has placed its ...