Competitor SunCruz suitors miss the boat - 2004-03-02
Arlen McBride and Bobby E. Hearn failed in their efforts to buy SunCruz Casinos Inc. for $42.3 million.
Nevertheless, Tuesday's statement clears the path for Ocean Casino to finalize its purchase by the end of the month.
Judge Paul Hyman of the Miami court authorized Ocean Casino's bid on Feb. 20 but granted the McBride-Hearn group roughly 10 days to get their funding in place. Now that they have been unsuccessful at doing so, SunCruz can work on finalizing the Ocean Casino agreement.
Read the full story at TheDeal.com