Si Redd sued over loan

Friday, Nov. 5, 1999 | 11:30 a.m.

Icon Funding Corp. sued Si Redd, a gaming equipment pioneer and casino owner, alleging he is liable to pay $1.24 million in rents owed for gaming equipment leased by The Infinity Group Inc. of New Mexico.

In the Clark County District Court suit, Icon alleged Redd, patriach of the world's largest slot-machine maker, International Game Technology and founder of the Oasis Resort Hotel & Casino in Mesquite, personally undertook liability on April 17, 1998, for any rental payments owed should Infinity Group or its guarantors default on a lease agreement signed March 31, 1998.

Icon said Infinity Group's guarantors, who were notified the company defaulted on its lease payments from July 1 through Aug. 1, 1999, failed to meet its obligations.

The suit said Infinity Group's guarantors and stockholders, Rolen A. Miller, H. Earl Morris, Nan B. Morris and Earl D. Morris, had guaranteed they would be jointly liable for any unpaid rents should the company default on its payments.

Si Redd's legal counsel could not be reached for comment.

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