The Complaint alleges that the Board of Directors of CQ Holding Company, Inc., the Administrative Committee of the Casino Queen Employee Stock Ownership Plan, Charles Bidwill III, Timothy J. Rand, and James G. Koman, Jeffrey Watson and Robert Barrows breached their fiduciary duties to the participants in the CQ ESOP and engaged in prohibited transactions in connection with the sale of CQ ... Before Wednesday’s sale, the Casino Queen was owned by a group of private investors, including members of the Koman family in the St. Louis area, which held a 20 percent ownership stake. Other... Baton Rouge will be removed from the Master Lease of Gaming and Leisure Properties and the property will become part of Casino Queen’s ownership. Reportedly, the deal is expected to fully complete during the second or third quarter of next year, subject to regulatory approvals and other ‘customary closing conditions’. CEO of Caesars Entertainment Tom Reeg shared his comments on the ... $170,000,000 Acquisition of Casino Queen by Newly Formed Employee Stock Ownership Plan Successful Casino to Create Long-term Economic Benefits for Employees Caesars Entertainment, Inc., (NASDAQ: CZR) ("Caesars" or "CZR") today announced a definitive agreement to sell Belle of Baton Rouge to CQ Holding Company, Inc. (Casino Queen). A year after the Casino Queen became an employee-owned company, its owners have signed a deal to sell its real estate assets for $140 million and lease them back to pay down debt. Casino Queen Employee Stock Ownership Plan. Print; Form 5500 Year: 2014. 2017; 2016; 2015; 2014; 2013; 2012; Plan Rating. Overview Financials Service Providers Investments Insurance Information. Overview . Plan Information. Plan Year 01/01/2014 — 12/31/2014; Date of Plan 12/01/2012; Net Assets as of 12/31/2014 $27,228,001; Plan Number 2; Plan Type Single Employer Is the plan collectively ... Casino Queen was owned by members of the Koman family, led by developer Jim Koman, and Charles Bidwill, Timothy Rand, Patrick Kenny and Michael Gaughan. The Casino Queen has a 40,000- sq. ft. gaming floor with 1,100 slot machines and 27 table games. Jim Koman said: “It was a great run for our organization. Casino Queen Hotel is one of 3 properties owned by CQ Holding Company, Inc.. The following ownership information is a subset of that available in the Gaming Business Directory published by Casino City Press. For more information about Gaming Business Directory products visit www.CasinoCityPress.com. CQ Holding Company, Inc. (Owner) In 2012, the Casino Queen sold for $170 million to an employee stock ownership plan (ESOP), a trust that was supposed to guarantee retirement savings for current employees.
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