FOR IMMEDIATE RELEASE
Date: Monday, July 18, 2022
Contact: Lorri Pickens, Lorri@citizensagainstgambling.com; 920-659-4489
Bristol Village Board Attempts to Railroad Casino Land Deal
Legal Opinion Contradicts Statements to Citizens
Bristol, WI – For weeks Village of Bristol Trustees have told upset residents that they are legally obligated to approve the Florida Seminole’s (Kenosha LandCo LLC) option to purchase 60 prime acres of land for a casino AS IS, unless the Seminole Tribe failed to meet any of the contingencies. A new legal review by a Wisconsin law firm, Godfrey and Kahn, found this to be entirely untrue.
The highlights the following:
- Fact: The Village of Bristol (the “Village”) has not yet entered into a binding option or purchase agreement with Kenosha LandCo, LLC (“Hard Rock Casinos”).
- Fact: For only $50,000 per year, Hardrock is locking up four parcels of land for up to 2 years without an obligation to buy all or any of them, at the stated price of $15,213,221.
- Fact: The Village has received other offers to purchase the land.
- Fact: By telling residents that the deal is done, the board has is attempting to con them into believing what they say doesn’t matter.
- Fact: The Letter of Intent only requires the Village to negotiate exclusively with Hard Rock Café and Casino through July 28, 2022.
- Fact: Hard Rock Casino’s proposed terms for the Option Agreement are more favorable to Hard Rock Casinos than to the Village of Bristol. For example, Hard Rock proposes to pay a fee of only $50,000. The market rate should be 1% to 3% of the $15,213,221 purchase price stated in the Letter of Intent (between approximately $150,000 and $450,000).
- Fact: The Village Board has called a special meeting for July 19, 2022, to discuss the Option Agreement with Hard Rock. The Village Board has four options: counter the option; reject the option; accept the option; or take no action on the offer.
Lorri Pickens of Citizens Against Expanded Gambling made the following statement:
“For the second time in 5 weeks, the Bristol Village Board of Trustees has called a last-minute special meeting and closed door session to negotiate the sale of 60 prime acres to the Florida Seminole Tribe. The signed letter of intent does not require any action before July 28, 2022. Why then nor wait until the next regularly schedule board meeting July 25? Is it because they are attempting to railroad approval before residents have a chance to know what’s happening. Bristol Village residents are entitled to know the terms of this agreement before the Village Board inks this deal. “
Download press release here: BVPR LIT NOT BINDNIG_07_18_22
###
