Mohegan Sun, a popular Connecticut casino, is suing a former Universal Studios executive over nearly $2.8 million in gambling debt.
Ronald Meyer, the former president and COO of Universal Studios, co-founder of Creative Artists Agency and vice chairman of NBCUniversal, is accused of racking up a large gambling debt.
On Oct. 13, 2017, Meyer lost $5 million in a one-day gambling spree at the massive Connecticut casino. Now, Mohegan Sun is suing him to repay the remaining debt, amounting to nearly $2.8 million.
HOW FOOTBALL PREDICTION MARKETS ARE ‘MUCH DIFFERENT’ THAN SPORTS BETTING
Mohegan Sun alleges in a complaint filed in New London Superior Court that Meyer issued “markers” in November 2017 totaling $5 million, but they bounced because of “insufficient funds in the account on which they were drawn.” As of the filing, the casino said Meyer made payments totaling $2,217,500, leaving a balance of $2,782,500.
In a motion to strike filed in August 2024, Meyer’s attorneys argue that “Connecticut prohibits the enforcement of contracts facilitating any type of gambling on credit.”
‘BUY NOW, PAY LATER’ SERVICES ARE DANGEROUS TRAP FOR YOUNG AMERICANS, FINANCIAL EXPERT WARNS
“The Tribal-State Compact Between the Mohegan Tribe and the State of Connecticut requires that all payments for wagers made in class III gaming conducted by the Tribe on its reservation must be made by cash, cash equivalent, check or credit card,” the motion read.
The motion was denied in October 2024, allowing the suit to proceed.
The former executive reportedly entered into a payment plan with the casino under which he made monthly $60,000 payments, according to Casino.org, which said the payments stopped in September 2023. Now, a judge must decide whether Meyer voided his right to a jury trial and agreed to Mohegan Tribal law by entering into the agreement.
Meyer resigned from his position in 2020 amid an alleged extortion attempt over an affair with actress Charlotte Kirk, according to reports. Then-NBCUniversal Chief Executive Jeff Shell, who was later ousted over sexual harassment allegations, informed the company of Meyer’s departure.
“Late last week Ron Meyer informed NBCUniversal that he had acted in a manner which we believe is not consistent with our company policies or values,” Shell wrote in a 2020 email to employees, according to NBC News.
Brian Spears of Spears, Manning and Martini, who is representing Meyer, declined to comment on the case. FOX Business reached out to Mohegan Sun for comment but did not immediately hear back.
Read the full article here
