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StumbleLandlords allege Four Queens owner behind on rent
Monday, July 13, 2009 | 6:52 p.m.
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Beyond the Sun
Downtown Las Vegas casino owner TLC Casino Enterprises has been sued by another group of landlords alleging it's behind on rent payments for its Four Queens hotel-casino.
The suit filed Friday brings to at least four the number of cases pending in Clark County District Court pitting TLC and its Four Queens and Binion's hotel-casinos against landlords.
Lawsuits filed this spring show TLC has been pressuring the landlords to lower their rent to help the casinos survive the recession that has reduced gaming revenue in downtown Las Vegas and other markets.
The latest suit was filed by Bogo L.C., Purkiss Family Trust, McCall Limited Liability Co., BD Forbes LLC and the Noblitt 2004 Trust. The landlords say they and their predecessors are parties to 50-year leases signed in 1983 for a portion of the Four Queens property.
The suit says an unspecified amount of rent is past due and that the Four Queens has failed to make the full rent payments since March.
The suit alleges breach of contract and unjust enrichment.
"Because defendants have intentionally failed to compensate plaintiffs in accordance with the lease agreement, defendants have breached their duty of good faith and fair dealing," the lawsuit charged.
While TLC has declined comment on the issue, its lawyers have responded in court in the previous lawsuits.
"The landlords have been unjustly enriched," TLC said in response to earlier lawsuits filed against it by different groups of Binion's and Four Queens landlords.
TLC has said in letters to the landlords that it has engaged a financial adviser and a New York land lease attorney to help it lower its rent costs.
Hearings are set for this month and in August on the landlords' motions that receivers be appointed to run the Four Queens and Binion's properties so that the receivers can pay the landlords the rent due under their contracts.
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You know if Four Queens just followed the advice from all the genius commenters on this site about how to "run" the strip properties they wouldn't be in trouble either.
For example, they need to get more games on the floor that the house will lose money on before you even consider expenses (beatable games).
They need to give away more food and rooms comps that far exceed the value and cost of the guest receiving them.
They need to bring the mob back so they can skim off the top and not pay taxes.
They need to do things like the good old days.
They need to only cater to a particular kind of guest (cranky pricks who spends all their days spewing hate on gaming articles and only want to play $5 BJ and get everything free on the center strip even though there are plenty of people ready to take his spot and pay a higher minimum).
They need to understand that the casino industry is not a business that markets and caters to all types of customers.
They need to understand that there should be no high-end retail stores in Las Vegas whatsoever even though they may make plenty of money and consumers give them plenty of business.
They need to understand that just because Vegas overbuilt a bit that we should burn the whole thing down and that the apocalypse is before us.
assuming there is no "funny business" going on here, i think this is just another example of this town falling apart.
This is not surprising. Four Queens has been a mismanaged dump for years. Mr. Caudill's other dump, the recently-acquired Binion's, is failing as well. Board 'em up and let's move on. Mr. Caudill should stick to owning small pubs, at which he is competent.
If he really wants to save these two lackluster properties, he needs to do a thorough housecleaning of employees, from the incompetent top management on down to the nasty floorpeople and dealers. A surlier, ruder bunch you won't find at any casino. Binion's is the worst, with Four Queens a close second. There are plenty of competent, customer service-oriented, English-speaking casino employees out of work or underemployed. Look around, Mr. Caudill, and hire some of these folks to replace the layers of deadwood festering at your two properties.
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Opinions and Commentary on the Gaming Industry: www.TheBearGrowls.com
"The landlords say they and their predecessors are parties to 50-year leases signed in 1983 for a portion of the Four Queens property."
This implies that the property changed hands at some point between 1983 and now. Maybe the casino owners should have purchased the land when it was on the market. Maybe they should purchase it now. The current owners can definately name their price, but maybe a deal can be made, thus eliminating the need to pay on a lease.
I think the last time the carpet was vacuumed at the Four Queens was in 1983.
Both BINION'S and FOUR QUEENS are excellent hotels and casinos, catering to the budget traveller such as myself. Both properties offer excellent value for the money, and I do hope that the landlords and the hotels are able to compromise and put the rent arrears issues behind them. Negative press and the mean comments posted so far are very detrimental to downtown Las Vegas.
I would all most bet that there is another company out there willing to pay the rent if these squaters would vacate the property, who are the ones trying to enrich themselves by trying to force an amendment to the lease while holding the property for ransom.
Its a tough market for gaming operators statewide. I think the landlord should sit down and review the lease in good faith. In 1983 the Four Queens was still in its hay day. Things have changed a bit. No reason to drive them into BK.
How does the Nevada Gaming Commission allow them to stay open when they can't afford to pay their rent?
You lose your license if you're running a nursing home and can't meet expenses. The assumption is that if you can't pay your bills, you can't provide proper care.
Seems like the same principle would apply to gaming. Or are there really any rules at all when it comes to casinos? I actually think the state is walking around with a limp wick when it comes to controlling the gaming industry.
To muddapucker
It's a good ole boy's club
There is a definite market for this low-end down town hotels. Especially in this down turned economy.
Maybe Four Queens and Binions can both bail out of their sites and work out a deal like a timeshare and relocate at the Lady Luck building...bound to be cheaper than what they are paying to rent them two places now. LOL
nehind on thier rent?!?!? doesnt that mean they SHOULD GET EVICTED!?!????
The Landlords are predicting (or actually have knowledge of) a soon to be economic recovery.
I guess its not enough that some of the out of town fat-cat trust fund receipients suied a downtown casino in the middle of a major economic downturn, no...they gotta come on here and bad mouth the battered goose some more.
Hillarious how obvious. Terms like "amendment" that never appeared in the article. The sniper couldnt even stop himself from using the term "enrich". He must have just got out of a meeting with his attorney.
I am very familiar with TLC and they are about the best tenants your gonna get for this property at this time Einstein. Just do your homework and remove pride from the equation. Whats in the interest of the tenants, landlords, and Vegas downtown is the continued tenancy of TLC at a rate consitent with todays "value-oriented" downtown clientel.
Its amazing how many people think Binions still operates in its heyday environment. It was once the top of the heap, but today its in an entirely different marketplace. The health bears upon the health of downtown itself.
How heartbreaking it would be to see these suits succeed. Las Vegas downtown is building an arts corridor and there is much anxiety about whether it will succeed in finally creating a real downtown. Well, these super scrouges have a shot of snuffing that out by tanking the entire Freemont Experience.
I love the comment about how the respondent is willing to "bet" that someone else will rent it. What part of the hemisphere does this guy live in? Uhhh...just walk the freemont experience and see how many people are jumping all over the Neopolis properties? What about the other vacant store fronts? Does this guy have any business accumen or he he resolute in "getting even" and working against his own interests in the process. Just amazing.
Heck, The Four Queens has one of the only decent Blackjack games in town!
Say what you will about The Four Queens and downtown in general---i rather be downtown anyday then on the strip..
After many years of staying downtown decided to stay on the strip this last vaction see what i was supposedly missing-NOTHING
OMG---overpriced to say the least---cant even play more then a few minutes without the machines sucking up a hundred bucks-----Excalibur charging almost 4 bucks for a 16 oz bottle of water----i never will stay on the strip again.
Mr. Caudill has done a decent job of putting in some upgrades and yes new Carpet at both locations I been staying at the Four Queens since 1998 off and on and have marked the improvements. The rooms are not fancy but not dumpy either and I enjoy staying there as I spend most of my time gambling not sunning myself on the pool decks. I come to Vegas to see shows, do some gaming and want to have adequate not fancy lodgings so I have more cash to play with and I was just at the 4Q in November 2009 I had managed to catch the flu on my flight and the drink waitress was so nice to me she got me a tray with everything I needed for to make hot toddies, the housekeeping staff thoroughly cleaned my room as I was worried about h1n1. What else could I have asked for they were so kind to me and I will always remember that.