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Casino News
Costner may have to pay big to keep Casino
By Graham Clifford
Published on 14 January 2008

Kevin Costner may have eluded the authorities as Elliot Ness in the award winning film ‘The Untouchables’ but it seems the law has caught up with the 52 year old over an ownership issue with his casino.

The Californian is now embroiled in a legal battle over the gambling den in the depressingly named town of Deadwood, South Dakota.

A state judge has just issued an order appointing a trustee to liquidate the casino, named the Midnight Star, as well as its sports bar and restaurant.

Judge Warren G Johnson had already ruled that Costner could have to pay $153,649 (£80,000 approx) to his former partners at the casino in order to become its sole owner.

The casino's previous managers had been Francis and Carla Caneva, who had a 6.5 per cent stake in the business, but the Hollywood star fired them in 2004.

The actor hired an accountant to determine the market value of the casino, which was put at $3.1m (£1.64m), in order for him to dissolve the partnership.

But a manager of another casino in the town of Deadwood testified on behalf of the Canevas that he would pay twice that for Midnight Star.

The judge agreed with the figure of $6.2m (£3.29m) and ordered Costner, who owns 93.5% of the casino, to pay the full price or it would be put up for sale on the open market.

In 2006, the state Supreme Court said that Costner could be forced to sell the casino if he refused to pay his former partners.

It seems that the actor will now have is hand forced, although lawyers say that the star of films such as Dances with Wolves, JFK and Field of Dreams could stave off the liquidation by appealing.

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