Foreclosure begins for Alabama casino land - WSFA.com Montgomery Alabama news.

Foreclosure begins for Alabama casino land

A company has decided to foreclose on the land where the Country Crossing casino was built in Dothan.

The Dothan Eagle reports (http://bit.ly/uwLDDY ) that Southern Farms Inc., headed by Dothan attorney Keith Givens, is seeking the land from Resorts Development Group, II.

The project now operates as Center Stage Alabama. An attorney for Resorts Development Group, Jim Parkman, said Center Stage will remain open while the two sides try to resolve their differences.

Southern Farms seller-financed the land in 2008 for $19.4 million, plus a 5% equity interest in the project. The agreement called for payment within five years.

Country Crossing developer Ronnie Gilley broke ties with the project after pleading guilty in Alabama's gambling corruption case. Other investors assumed control and opened Center Stage Alabama in the summer.

 

Information from: The Dothan Eagle, http://www.dothaneagle.com

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