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Casino to take Corbin businessman's land holdings to pay gambling debts


A prominent Corbin businessman owes an Indiana casino over $155,000 in gambling debts, and a court has ordered that he surrender his stake in a local property development company in order to satisfy that debt.

For the second time since 2010, Jimmy Vance is on the losing end of a court battle over loans he was given by casinos in the Hoosier state. In 2010, he lost an appeal against Ceasars Indiana, a riverboat casino docked on the Ohio River in Harrison County, Ind., near Louisville, and was ordered to pay $75,000 in blackjack losses to the casino.

This time around, Belterra Casino Resort and Spa, located in Switzerland County, IN, is attempting to enforce a judgment against Vance for $155,278.43 with interest accruing at eight percent per annum.

On Sept. 2, 2010, Switzerland County Circuit Court Special Judge James B. Morris, ruled that Vance must pay for the $90,000 credit advance he received from Belterra during a night of drunken gambling on Sept. 17 and Sept. 18 of 2003.

According to court documents, Vance agreed that he signed $40,000 worth of "markers" borrowing money from the casino, but contested the last three, saying his signature was illegible and that he was too drunk to legally authorize the loans.

"Defendant believes that he had about 24 drinks of bourbon on the evening of September 17, 2003 and the morning of September, 18, 2003."

The first of the seven markers was signed at about 8:30 p.m. The last at around 2:37 a.m. Vance argued that the casino pit boss should have cut him off from drinking and now allowed him to borrow the money because he was intoxicated. Belterra argued it does not serve complimentary drinks and that Vance ordered and voluntarily consumed all the alcohol of his own accord.

"James Vance was a very experienced gambler and had extended credit lines at casinos all over the United States," the judgment reads.

Belterra normally has video taped footage of its patrons, but could not present any to the court because Vance did not try to make an intoxication defense until two years after the case was initially filed.

Evidence presented to the court showed Vance had agreed to pay the debts during numerous phone calls in 2003 and 2004.
The case was transferred to Laurel County last year. Vance resides there.

The case was moved again to Whitley County just this month because Belterra intends to seize his portion of Corbin By-Pass Properties, LLC - a company that owns commercial property in south Corbin. Officers of the company include Vance, James Myers, Robert Price, Lanny Myers and Dennis Myers.

Vance is owner of Corbin Bingo Parlor as well as numerous other business ventures, including rental property, billboards and a property development company.

 

Comments

Viva Lasvegas (October 31, 2011) Reply

A drunken wealthy fool, this guy is unbelievable. He has 4-7 DUI's nationwide, severly on drugs and alcohol. What idiot would gamble in a drunken stupor except a drunken fool like Jimmy Vance. He could have put that money to good use in the area to help the less fortunate instead of blowing it trying to make even more money. As the Bible says, the love of money is the root of all evil. Many think Money is the root but it's the love of money. And Vance thinks he can take it with him.


Jean (November 01, 2011) Reply

While we are praying, why don't we pray for the Lord to touch his heart and save him. He needs the gospel.


kathy (November 01, 2011) Reply

in response to viva las vegas...i dont think he thinks he can take his money with him,he thinks he can pay his way out of any thing,which he's been doing for years and getting away with it.for the right price you can have any thing swept under the rug,this time his credit has run out!by the way with all those DUI's how is it that he's still driving?it's not like you cant see him coming!


Brandi (November 01, 2011) Reply

Let us pray that the company that has taken his land will do something for the community, that will help those less fortunate than those that have MONEY TO THROW AWAY. This is a poor town, and could use some some good clean type of inexpensive entertainment businesses for the public. The average person cannot afford to go to the new arena they have built, that all of us are paying for....Think about it Corbin...


just me (November 01, 2011) Reply

well he lost the bingo parlor & has no part of it now because he was ripping off his partners


josh (November 01, 2011) Reply

i think if govener breashear or who ever should have a talk with this casino mananger an he might start up some new jobs for kentucky like he says an also may make the casino guy even richer haha!!!!!an get on the winning side again.


granny49 (November 02, 2011) Reply

That money would of bought a whole lot of halloween costumes for needy childern, and their parents wouldn't have to turn to crime to provide a trick or treat costume.

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