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April 17, 2013
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Future not always a winning bet

The news of Sharkey’s financial woes revealed last week shouldn’t have been too big a surprise, given the fact the casino has been for sale for several years. Looking back through the record, it was pretty clear that during the heyday, just before the beginning of the Great Recession, that Sharkey’s owner Hal Holder was expanding his business and that Sharkey’s was, in part, collateral for that expansion. According to the Assessor’s Office, Sharkey’s was never worth the more than $3 million that’s owed on it. Had gaming continued to grow, Holder’s was the smart bet. Last fall we wrote …

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The Record Courier Updated Apr 17, 2013 03:34PM Published Apr 17, 2013 03:36PM Copyright 2013 The Record Courier. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.