The
$22 million purchase of the Four Queens by Summergate and TLC Enterprises
continues to go smoothly.
David
Atwell, of Resort Properties of America, said that the purchase is expected to
be finalized at the closing in early May.
“Terry
Caudill (owner of the Magoo’s chain) is assuming the four million debt from
the purchase,” said Atwell, who transacted the Main Street Station purchase in
1993. “The downtown area is coming back and the Four Queens purchase is a
positive indicator of that.”
Phil
Madow, president and general manager at Four Queens, was quoted as saying that
the 1,000 employees at the downtown casino hotel would be offered employment by
Summergate.
