Casino closed.(PUERTO RICO)

0 Comments | Caribbean Update, July, 2009

Diamond Palace Hotel & Casino in the Condado sector of San Juan recently shut down its casino until further notice, reports Caribbean Business (June 4, 2009). Pulsar de Puerto Rico Inc., Diamond Palace's parent company, currently under Chapter 11 reorganization, shut down the casino to avoid delays in meeting the operation's ongoing financial obligations, said Attorney Nelson Diaz Robles, representing Pulsar, which also proposed to the Tourism Co.

a revised operations schedule, from 6:30 p.m. to 3:00 a.m.; keeping slot machines operational during the daytime; and a three-month waiver on payments to the Tourism Co. from casino revenue. The Tourism Co. approved the proposed schedule of operations, but rejected the other recommendations on the basis that it violated...

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