Heavy Hitters!

This time Tri-State Casino and Racetrack have been caught with their pants down!!

Financial audit reports from 1999 to 2007 obtained through the racing commission (FOI request) clearly shows how Danny Adkins & Hartman & Tyner diverted $300 + million dollars from the casino to themselves....

Examples: (these line items came straight from the audit reports)

1. From 1999 to 2004, Tri-State paid "Florida Racing Services" $30.2 million for a "loan". This company was created by Hartman & tyner in 1999 & closed down in January 2005, right after a "last payment" of $815,000 from the track. According to former GM Chris Brewer, the company had nothing to laon anyone. It was not even a real company.

2. Tri-State claims that over the past nine years they have paid Hartman & Tyner $30.2 million dollars in “management fees.” There is no explanation what type of management services Hartman & Tyner provided to Tri-State, but it was very expensive.

3. An expense for administrative services totals $43 million dollars over nine years.

4. Revolving loans, notes and advances from Hartman & Tyner add up to an average of $9.9 million a year. There is a revolving line of credit for $10 million.

5. Then there is the “non-cancellable operating lease agreement” for slot machine rentals of $11 million dollars that began in 2001 and continue to this date. One inside source said that Hartman & Tyner is the company leasing the slot machines back to Tri-State.

6. Tri-State also lists $32 million dollars in stock equity from 1999 to 2007. This stock is classified as “common stock” – par value $100 a share with only 100 shares available. What is unusual is the fact that in 1999 the total equity was listed at $2.4 million and is now up to $32 million.

Note: In 2007 Tri-State claims a total net loss of -$480,000 but the stockholders made out like bandits...

7. One line item titled “Other” claims expenses of $5.1 million for the nine year period. No explanation was given for what this expense included.

8. $21 million dollars in “contract labor.”

9. Travel & entertainment cost $1.7 million. Just in 2007 the cost was $445 thousand.

10. Complimentaries & gratuities to customers and businesses totaled $4.8 million.

For the entire story go to:

westvirginianews.blogspot.com/

Anyone wishing a copy of the financial audit reports, e-mail us your address and I will gladly mail you a copy.

Email PWDGroup@gmail.com

I wonder how much was diverted to their supporting politicians.

Of course, I have been called a cynic more than once.

Wonder how much this has cost the State of West Virginia in real revenues. Looks like we're getting the shaft.

Sister Mary wrote:Wonder how much this has cost the State of West Virginia in real revenues. Looks like we're getting the shaft.

Sister Mary,

I requested from this Sam Webber the documentation he had offered in " his post" concerning the Tri State Casino Casino and Race Track. This should be proof in the pudding to anyone thats it authentic .

He will probably read this, but I don't think it will do him any harm for me to post it.

He also knows about Wanda Carneys efforts in her investigations. And the trap the "they" set for her. He says he is aware "them", but no problem with him.

Viva La. Sam Webber.

I HOPE EVERYONE HAS READ IRONICUS MAXIMUS, JULY31/09. THE KILLING FIELDS OF CHAPMANVILLE, WEST VIRGINIA, WEBBER AND SWINT.
EARL RAY TOMBLIN IS TRYING TO BE GOVERNOR. HE IS CORRUPT; HIS FATHER IS ALREADY A KNOWN CRIMINAL; AND HIS MOTHER HAS BEEN DOCUMENTED TO USE LIVE BAIT FOR THE PURPOSE OF TRAINING GREYHOUNDS FOR THE TORTUOUS LIFE OF RACETRACKS (A CRIME IN WEST VIRGINIA)
EARL RAY TOMBLIN HAS ALREADY ABUSED HIS POWERS AND CONTINUES TO ESCALATE FOR THE SAKE OF MONEY.
WHY WOULD HE JUST EARN AN AWARD FROM WILLIAM POUND?
INVESTIGATE SENATE PRESIDENT EARL RAY TOMBLIN.
STOP HIM BEFORE HE DOES EVEN MORE TO TARNISH WEST VIRGINIA.
YOU ARE THE VOTERS.
YOU DECIDE YOUR FATE.