A Chickasaw Nation-backed company, Global Gaming Legends LLC, is demanding the return of its $6.25 million deposit after a $125 million deal to purchase Diamond Jacks casinos in Mississippi and Louisiana fell apart because, it says, the casino owner failed to maintain the business as required by the purchase agreement, Dow Jones DBR Small Cap reported yesterday. Since it entered into the deal with casino owner Legends Gaming LLC in July, Global Gaming Legends alleges that the company has failed to invest in the casinos, which has led to a "dramatic decline" in the value of the assets. Global Gaming Legends LLC, formed by the Chickasaw Nation to purchase the casinos, filed a lawsuit on Monday in casino owner Legends Gaming's chapter 11 case to recoup their money.
