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Article: Indian Tribe, Construction Firm Fight over Coconut Creek, Fla., Casino Profits.

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Knight Ridder/Tribune Business News
Article date:
February 5, 2003
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By John Holland, South Florida Sun-Sentinel Knight Ridder/Tribune Business News

Feb. 5--COCONUT CREEK, Fla.--The Seminole Tribe, which spent no money to open its Coconut Creek casino in 2000 but has already raked in about $150 million profit, refuses to pay the company that planned and funded the entire project.

The reason, in large part, is because the deal has been so successful that the tribe could spend as much as $250 million -- 35 percent of its projected profit over 10 years -- for a single building that cost $20 million. Now the tribe wants federal regulators to let it renege on a contract with Coconut Creek Gaming, which put up all the ...

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