The Red Hawk Casino. Photo from Twitter
The former casino manager for the Shingle Springs Band of Miwok Indians of California has been told to pay $2.4 million as part of a dispute that went into arbitration. Lakes Entertainment ran the Red Hawk Casino under a gaming management contract. The deal ended when the tribe bought out the agreement for $57.1 million last year. As a result, Lakes stopped making payments to Jerry Argovitz, who was an investor in the tribe's casino. Argovitz responded by invoking arbitration provisions in 2003 buyout agreement. According to a press release from Lakes, the arbitrator ruled in Argovitz's favor. The decision is final and can't be appealed. “We are surprised and disappointed in the award. This issue, however, is now behind us,” Lakes CEO Lyle Berman said in the press release. Related Stories:
Press Release: Lakes Entertainment and Shingle Springs Band (11/06)
Shingle Springs Band makes big strides in finances at casino (08/30)
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