Fremont Street Experience recoups dues

Monday, March 15, 2004 | 11:01 a.m.

The Fremont Street Experience received a multimillion dollar check from Harrah's Entertainment Inc. on Thursday that settled the association's longstanding battle to recover unpaid dues from Binion's Horseshoe.

A confidential settlement prevented Fremont Street Experience President Joe Schillaci from disclosing the amount of the check that was received the same day that MTR Gaming Group and Harrah's Entertainment closed their respective deals to own and operate Binion's Horseshoe, but the association's lawyers have previously pegged the overdue amount as being greater than $3 million.

"After being in the hole, we're now in the plus and we're very pleased," Schillaci said, noting that the unpaid dues limited the Experience's ability to hire entertainers, and that he anticipated being able to significantly increase the number of shows at its two bandstands. "We're delighted to be able to turn the page."

Schillaci said recent rain in Las Vegas has delayed the planned debut of the canopy's new video technology a bit until early June.

With the additional funds, plus Harrah's and MTR's commitment to pay the Horseshoe's dues, Schillaci expects to be able to resurface Fremont Street and paint the canopy's columns.

"Our product is great and it's going to get better," Schillaci promised.