US serves 105 warrants in Puerto Rico drug ring crackdown

NEW YORK, July 21 Another two Democratic senators have agreed to co-sponsor a bill that would allow Puerto Rico’s municipalities to use Federal bankruptcy laws, the U.S. territory’s representative in Congress Pedro Pierluisi said in a statement on Tuesday.

The former 24-hour casino, which opened in 1975, will likely be turned into a ballroom, he said in a phone interview.

The Condado Plaza Hilton, which is one of the most well-known hotel and casino in Puerto Rico, lays off 144 workers and closes its casino.

Gambling taxes represent the majority of revenue for Puerto Rico’s Tourism Company, which is responsible for promoting the island.

Cruz Batista told the press that the Caribbean island would look into reallocating part of its current US$9.8 billion budget to pay off part of its US$94 million debt with the Public Financing Corporation, but that it must first prioritize services to its citizens, reported EFE.

Government officials also announced that private equity firm Leon, Mayer & Co.is buying El San Juan Resort & Casino in Isla Verde for $71 million.

Paulson’s other tourism properties in Puerto Rico include the opulent Condado Vanderbilt, located near the San Juan Beach Hotel, the St. Regis Bahia Beach Resort and La Concha Resort.

Puerto Rico has 20 casinos still in operation.