Mayweather Seeking $61 Million From Bankrupt Casino

by David P. Greisman

Floyd Mayweather Jr. is seeking $61.6 million from Center Stage Alabama, a bingo hall/casino/entertain complex that he claims received a loan from him two years ago and has yet to repay him, according to court documents obtained by

The story was originally reported by the Dothan Eagle.

Mayweather, through his attorney, says he lent Resorts Development Group II a total of $4 million. According to the newspaper article, Mayweather was supposed to receive $5 million in return within a month, and if that amount wasn’t paid on time, the number would grow by an additional $100,000 each day starting on June 21, 2010.

There were 566 days between June 21, 2010, and Jan. 8, 2012, the day before Resorts Development Group II filed for Chapter 11 bankruptcy.

Mayweather joined the list of creditors allegedly owed money by the company with a July 2 filing, according to court documents. The deadline for filing a claim was April 16, but Mayweather’s attorney argued that the claim should nevertheless be accepted. The deadline was invalid, he said, andMayweather had not been served proper notice — as instead a notice had been sent to a law firm that no longer represented him.

Resorts Development Group is objecting to Mayweather’s claim. Its argument notes that Mayweather’s debt claim had been listed as “disputed” and in the amount of $6 million.

The objection argues, in part, that the money had been lent to a man named Ronnie Gilley, who had run both Resorts Development Group II and Ronnie Gilley Entertainment, but “it is unclear” whether that money “was ever actually utilized by” Gilley “in the development and operational aspects of Resorts Development Group II,” according to court documents.

A hearing has been scheduled for Aug. 21.

The casino has had other troubles of late, according to the Dothan Eagle. Last year, Center Stage Alabama was sent a cease and desist letter by the state Attorney General’s Office for allegedly illegal gaming. There had been attempted raids on the complex in January 2010, when the casino was operating as County Crossing. It shut down and reopened last year “under new management,” the newspaper said.

But last week, the casino was raided, and “hundreds of electronic bingo machines and some cash” were confiscated, according to the Dothan Eagle.

David P. Greisman is a member of the Boxing Writers Association of America. Follow David on Twitter @fightingwords2 or send questions/comments via email at [email protected]

User Comments and Feedback (Register For Free To Comment) Comment by APBrooklyn on 08-04-2012

floyd got Gamed.....Scammed...pretty obvious here...those lending terms are ridiculous and no legit business person creates terms that outrageous. he got scammed and will get Nothing now - i've see the same or similar type of scam time and time again…

Comment by edgarg on 08-03-2012

As far as I can find, the casino was originally named Country Crossing, and after a month in operation it was raided and closed for a year then reopened under it's new name, under the eye and attendance of the…

Comment by edgarg on 08-03-2012

[QUOTE=Hitman932;12396914]You mean to say that if you had 100 million dollars in the bank you wouldn't be investing it into propping up failing Las Vegas Bingo Halls? Seems like the type of investment that Warran Buffett would jump at![/QUOTE] No,…

Comment by Ravens Fan on 08-03-2012

Floyd must be using Mike Tyson's old investment team. And they can pay him by giving him as many unused bingo cards that he can carry to add to his portfolio.

Comment by Furn on 08-03-2012

They've gone bankrupt Floyd your not gonna get a cent.

Post a Comment - View More User Comments (91)
Top Headlines Pacquiao vs. Lomachenko is The Fight Arum Wants To Make Most Terry Flanagan vs. Orlando Cruz on November 26, Motorpoint Roach: Golden Boy Protecting Their 'Cash Cow' From Golovkin John Molina Wants to Dethrone 140 Kingpin Terence Crawford Schaefer Explains Ringstar Business Model, PBC Relationship Roach Still Wants Pacquiao vs. Canelo: I Love That Fight! Parker's Promoter Still Pushing To Keep Ruiz Fight in Auckland Manny Pacquiao: I Need a Convincing Win To Prove I'm Still Here Scott Quigg Makes Featherweight Debut on Anthony Joshua Card Pacquiao vs. Vargas Lands on BoxNation Katie Taylor Inks Promotional With Eddie Hearn, Pro Debut Set Oscar De La Hoya: 2016 is Maybe The Worst Year For Boxing Roach: I Don't Think Andre Ward is The Fighter He Used To Be Video: Freddie Roach Talks Golovkin, Kovalev vs. Ward, More Manny Pacquiao, Freddie Roach Have Retirement Pact in Place Video: Justin Fortune Discusses The Heavyweight Division Juan Manuel Lopez vs. Wilfredo Vazquez Jr: Sure, Why Not Video: Bob Arum Talks Schaefer, Trump, King, UFC, More Arum: I Would NEVER Do Pacquiao vs. Golovkin - It Was a Joke! Video: Manny Pacquiao Putting in Work For Vargas Title Clash Video: Freddie Roach on Thurman-Garcia, Lebedev-Gassiev, More Mason Menard's Fight Now Off Due To Bookkeeping Issue Molina Still Wants Danny Garcia Fight: He Has Holes in His Armor Video: Manny Pacquiao Talks Camp, Retirement, Vargas, More Demetrius Andrade Very Motivated as Jack Culcay Clash Nears Photos: Manny Pacquiao Putting in Work at Wild Card Gym Canelo Says The Ball is in Golovkin's Court: Accept The Offer! Ricardo Mayorga Crashes Into Taxi, Pursued For 200K in Damages Canelo Eager To Prove WBO Prez's Prediction of Mayweather KO Vences: A Win Over Casey Ramos Will Open A lot of Doors For Me Photos: Juanma, Vazquez Explode in Very Tense Final Presser Ustinov's Manager Expects WBA To Order Klitschko Title Fight Premier Boxing Champions Reveal Season 3 Schedule Helenius Faces Basile on 12/17, Chisora Rematch Eyed For March Arthur Abraham Shelved For Three Weeks Due To Elbow Injury SHO's Espinoza: Mayweather Won't Even Joke About Ring Return Curtis Stevens-De La Rosa Added To PPV Portion of Kovalev-Ward Briggs Claims Haye Used His Name: He Backed Out of Our Deal Cuellar Vows To Take Mares Out - Targets Frampton, Santa Cruz Klitschko: No Retirement, Joshua Fight Will Be Biggest in Years

Latest Active Forum Threads