Alabama casino gambling appears as a good investment for some people. Anyone can buy shares of stock in a big company like Caesars Entertainment. In this case, a bunch of NFL football players including Ray Lewis and Terrell Owens got together and made a big investment in a Southeast Alabama casino in 2010. The risky investment in the Alabama casino only lasted 2 weeks and cost millions of dollars. If you watched the CBS news program 60 Minutes you may have seen this story. The former Alabama Attorney General Troy King was interviewed by 60 Minutes reporter Armen Keteyianon.
How Do NFL Players Lose Millions Of Dollars In Southeast Alabama Casino Investment?
The main investor Jeff Rubin’s risk was supposed to be a huge entertainment and casino complex that was supposed to bring in millions of dollars in tax revenue to the state of Alabama. The challenge was that lawmakers started to debate whether the casino gambling establishment was legal and started to vote on the gaming legislation.
Yes, it appears the Country Crossing Casino in Houston County has a big cost. Furthermore, Jeff Rubin, Ray Lewis, and Terrell Owens appear to lose money. Along with other investors, it appears they lose over forty-three million dollars. Also, apparently everything went into the deal understanding that they can promote USA slot machines. Also, they want to promote other games like bingo. However, it appears Alabama deems bingo illegal.
Most importantly, Jeff Rubin, Ray Lewis, and Terrell Owens invest. Furthermore, other investors offer strong projections for the Country Crossing Casino in Houston County. Moreover, they believe it will bring in over 100 million dollars per year. However, when 60 Minutes reporter Armen Keteyianon does an interview with Jeff Rubin, the story is different. In the interview, he makes a shocking statement. He says, “If I could go back in time I wish I had never set foot in Alabama”.
Wishes They Never Went TO Alabama
Indeed, the Country Crossing Casino in Houston County shuts down. Furthermore, law enforcement takes them down in 2 weeks after it opens. If eventually re-opened but was shut down again by police and other law enforcement members. The Alabama casino was raided in 2012 by the Alabama Attorney General Luther Strange’s office and other authorities. They took almost $300,000 in cash plus almost 700 electronic gambling machines and table games.
Electronic Gambling Games
Indeed, the Houston County Economic Development Authority operates the casino in Alabama. Furthermore, they fight the seizure tooth and nail. In 2014, the Alabama Supreme Court makes its final ruling. As a result, their ruling is that the electronic gambling machines taking in the raid are illegal.
Prior to the former Alabama Governor Bob Riley formed an anti-gambling task force in 2009 the Country Crossing casino was the largest land gambling establishment in the state of Alabama. During their pean, they had almost 2,000 slot machines and table games.