πŸ– 12 Investigates: Sale of Margaritaville in doubt over licensing dispute

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Attorneys representing the Margaritaville Casino Franchise also released a statement Wednesday afternoon confirming the findings of the arbitration panel and noting the panel also ruled that BSV was obligated to continue operating under the Margaritaville brand. Margaritaville disagreed, arguing the hotel owner created their own interpretation of the agreement in order to get out of it. Each side offered documentary evidence, most of which was admitted. Each side called witnesses and cross-examined the opposing witnesses. The work included running water and sewer lines to the property, building a road to the property with two roundabouts and making improvements to the intersection of East Texas Street and Traffic Street. PCI made the offer on the condition that they would not have to operate it with any of the Margaritaville branding. The change in ownership was originally expected to be finalized before the end of Timeline of events:. Furthermore, the panel found that BCV is contractually obligated to use the Margaritaville brand through the end of the year agreement. All rights reserved.{/INSERTKEYS}{/PARAGRAPH} March 28, Final award issued by panel. It also threw out BCV's counterclaim that it was entitled to terminate the agreement based on alleged breaches of the contract by Margaritaville, concluding that "Bossier is not entitled unilaterally to cease using the Margaritaville IP or brand. The panel's decision in favor of Margaritaville would appear to be a deal-breaker for Porch Creek Indian Gaming based on the condition laid out in the purchase agreement that they must be "free and clear of any Margaritaville-related licensing obligations. BCV signed off on the deal because they believed they had an "out" in their agreement with Margaritaville. Each side called a witness and cross-examined the opposing witness. Margaritaville is in the process of confirming the award in court. {PARAGRAPH}{INSERTKEYS}That dispute centers on whether the company that owns and operates Shreveport-Bossier City's newest casino is legally bound by an agreement requiring it remain under the Margaritaville brand for the next 35 years - even if it's sold to a new owner.