Developer takes step back from Lake Worth Casino - Fox29 WFLX TV, West Palm Beach, FL-news & weather

Developer takes step back from Lake Worth Casino

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A developer proposing to make changes to the Lake Worth Casino complex is taking a step back.

Hudson Holdings announced in a letter to the city that it is withdrawing from negotiations.

Developer Steven Michael said, "(the) process has been derailed by a lack of clear direction and structure."

Taxpayers are on the line for hundreds of thousands of dollars in shortfalls; this and the need for capital improvements is crippling the center, city manager Michael Bernstein said.

Bernstein says the city is trying to come up with a solution to these two problems; they thought by bringing in a developer to enter a public-private partnership it would help.

Hudson Holdings, the owners of the Gulfstream Hotel in Lake Worth, stepped up to the plate. They presented a plan including a restaurant, retail complex, spa and a new wave pool.

But with opposition from some residents, Hudson Holdings says "the goal post continued to move and visions continued to change."

Steven Michael says this is just a break, they are interested in a future with the city but would like a narrow focus before moving forward.
 

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