The Business Courier of Cincinnati is reporting that Columbia Sussex Corp., parent company of the Horizon Hotel and Casino in Stateline, will have to pay $165 million over the next three years to settle their civil dispute with Park Cattle Co.
The report came from the Securities and Exchange Commission filing, which said $40 million has been paid to Park.
Other terms include that Park Cattle can terminate its lease for theTahoe Horizon Resort in 2011 and gives Park the right to terminate its lease on the MontBleu Casino in 2018, 10 years earlier.
The filing was done on April 8.
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