Binion's Horseshoe Casino closed by the Feds (ticker only)

KFMB news ticker

[BreitbartSentMe]

That's all that it said right now.

[BreitbartSentMe]

anyone know what's up with that?

[Support Free Republic]

"Facts are stubborn things, and whatever may be our
wishes, our inclinations, or the dictates of our passions,
they cannot alter the state of facts and evidence."
- John Adams -

Make your statement.

[BADROTOFINGER]

Damn. I am hoping to play in the World Series of Poker in the next 5 years sometime...JFK

[vikingchick]

Isn't that on the older side of town?

[Jackson Brown]

Feds, IRS and Gaming Control Raid Binion's Horseshoe

(Jan. 9) -- We have confirmed reports that Federal Marshals, the IRS and Gaming Control Board agents are in the process right now of shutting down Binion's Horseshoe Casino downtown.

Last month, the IRS placed a federal tax lien on Binion's, claiming it owed $2.5 million in back taxes. And earlier this week, the IRS placed a second tax lien on the Horseshoe. Eyewitness News was told Friday night's action is an effort to collect money owed to union pension funds.

Sources tell us officials have asked all patrons to cash out, and have begun shutting down the tables and the main cage. For the past several years, Binion's has been struggling financially, owing money to everyone from Nevada Power to the Fremont Street Experience.

This story is still developing at this hour. We'll bring you any updates as soon as we get them. And Channel 8 will have more information tonight on Eyewitness News at 11.

http://www.klas-tv.com/global/story.asp?s=1595343&ClientType=Printable

[kingu]

Flash story on the closing...

[Hillarys Gate Cult]

Sounds like it is one of the older ones, here's their site;

http://www.binions.com/index1.htm

[kingu]

Deputy U.S. marshals entered Binion's Horseshoe this evening armed with court orders authorizing them to seize cash from the casino. Officials said a judge authorized the seizure to satisfy several debts owed by the casino.

Outside the Horseshoe late Friday, a small crowd gathered.

Some people yanked on the locked doors or were turned away by security guards. Others peeked inside the tinted glass trying to figure out what was going on inside.

Rick Gish, 46, of Litchfield, Minn., said he was playing at a packed craps table when a pit boss walked by and told everyone to cash in their chips. Everyone ignored him until he returned a short time later and repeated the command.

By the time Gish got to the cashier's cage, most of the tables had been closed and Las Vegas police, Gaming Control Board members and U.S. marshals had appeared on the casino floor.

Several U.S. marshals were also inside the cashier's cage, Gish said. As Gish walked toward the exit, one U.S. marshal told him, "As soon as we get our money, we'll be done."

Among the Horseshoe's recent high-profile legal disputes are battles with the Fremont Street Experience over $3 million-plus in unpaid fees; the Internal Revenue Service, which on Nov. 5 placed a tax lien on the 52-year-old gambling hall, claiming the Horseshoe has yet to pay $5 million in past due payroll taxes; and the Culinary union, for unpaid health care contributions.

[BreitbartSentMe]

well, they haven't repeated it again in the ticker so far, so who knows, maybe just a rumor.

[HiTech RedNeck]

What city?

[vikingchick]

Oh yeah, Fremont Street. That's the older part of town. Guess they've fallen on hard times.

[Fledermaus]

No wonder...the place is still a dump and probably doesn't get the revenues.

It's a much different place than my grandmother used to steal ashtray's from in the 60's!

[BreitbartSentMe]

Gee you guys are fast! Thanks for the info. Who knows if this will spell the end for Binions or not. And just when poker was going big time on TV.

[Hillarys Gate Cult]

Dummy me. It's the one with the big horseshoe, a Vegas landmark. Almost every old movie showing the Vegas strip has it.

[RIGHT IN LAS VEGAS]

Nothing closes here!

Another opens.

I went out for dinner and saw Sandra Murphy,,,,, Wednesday evening......She was recently released!

RILV

[RIGHT IN LAS VEGAS]

Yes, downtown friend!

[MediaMole]

the Internal Revenue Service, which on Nov. 5 placed a tax lien on the 52-year-old gambling hall, claiming the Horseshoe has yet to pay $5 million in past due payroll taxes;

That stuff is all voluntary, some guy in Texas told me so.

[RIGHT IN LAS VEGAS]

Chevy Chase and "Las Vegas Vacation"

The scene is in front of the "Klondike",

Chevey walks up to a table and the betting sign said...

"GUESS A NUMBER!"

[Jackson Brown]

""What city?""

Downtown Las Vegas

[kingu]

The long and short of it is that you can play games with your personal and business taxes all you want, and unless you try to thumb your nose, they'll let you get away with a lot.

But if you screw with payroll taxes, you're sunk. Which makes a bit of sense, since those are technically payments made by others through you.