Atlantis makes claim against deceased businessman’s estate
Atlantis has made a $2.7 million claim against the estate of a deceased Russian-born businessman–becoming the latest in a long line of creditors which are seeking to recoup around$20 million in losses.
Despite Illinois-based Mikhail Katamanin being dead for almost one year now, his creditors are still knocking at the door. Lawyers for Atlantis recently became the latest to join the legal wrangling, according to reports out of that U.S. state.
The claim from Atlantis’casino is for$2.7 million from his estate, joining claims from other casinos.
The MGM Grand in Las Vegas reportedly has made a claim of$2.5 million and casinos owned by Harrah’s extended him$1.2 million in late May 2009. He also reportedly took another$95,000 from Wynn Las Vegas in early June 2009, according to casino records. Lawyers for Trump Taj Mahal in Atlantic City have filed court papers claiming he owes that casino$3.2 million, reports the Chicago Tribune.
Katamanin died just as charges related to him skipping out on casino debt were being considered,Guardian Businessunderstands.
Atlantis’claim comes as the resort commences the upgrading of 100 suites in the Royal Towers, which opened in 1998. The improvements will be aimed at drawing a more discerning clientele for the Atlantis casino.
Back in June George Markantonis, managing director of Kerzner International(Bahamas), announced a teen’s club project as part of an investment into Atlantis related to the opening of new restaurants, room revamps and a major casino makeover.
“We are going ahead with$100 million worth of renovation and expansion,(with)the potential to provide up to another 400 jobs,”he said in an earlier article.”That expansion is going to take place over the next two years, it is not Phase Four and it is not the Hurricane Hole development.
“The reality is we have to keep refreshing the product, it is similar to any destination and we have certain facilities here that we can do more with and provide, particular for our returning customers, alternatives-make it fresh.
“The 400 jobs primarily are going to be focussed in the food and beverage division. We are intending to create three more restaurants in the existing facility. Some of that good news is that one or two of those restaurants were phased down and closed after the economic debacle in 2008. We are now looking at redesigning and reopening them, but reopening them in a completely new fashion and under different banners.”