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Most Recent Online Casino News

Online Casino Bids for NBA Cavaliers

An Internet casino operator said on Wednesday that it is willing to outbid a Detroit businessman for the Cleveland Cavaliers, an apparent publicity stunt that could possibly open a bidding war for the NBA team.Casino Fortune, which bills itself as the world’s oldest online gambling company, said it has submitted a letter to owner Gordon Gund that outlines its intent to buy the Cavaliers, who have experienced a financial windfall since the arrival of LeBron James.Last week, Gund, who bought the Cavs in 1983 for $20 million, said he was in serious negotiations with a potential buyer.

Dan Gilbert, founder of Quicken Loans, has reportedly offered Gund approximately $375 million for the team and the operating rights to Cleveland’s downtown arena.Trinidad-based Casino Fortune claims it previously attempted to buy the Phoenix Suns for $380 million. It also sought a portion of Donald Trump’s casino empire and tried to purchase a seat on NASA’s space shuttle.The company has not yet gotten a response from Gund’s office or Cavaliers management.

Spokesman Kevin Mercuri said the casino company has proposed meeting with Gund and team executives next week."We will make it clear that we want this team, by outbidding Mr. Gilbert," Casino Fortune president Dennis Rose said. "Whenever we seek to buy a team, our efforts are repeatedly rope-a doped by the NBA. Today, we have our own bankers and backers. We are a global casino operation, we have the money and we want the team."

Cavaliers spokesman Tad Carper would not comment on the casino’s proposals. The NBA did not immediately return a message seeking comment.

Read the entire article at: SI.com 

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