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Date Amount
Apr. 2, 1987 $5,000
May 27, 1987 5,000
July 16, 1987 5,000
Aug. 22, 1987 5,000
Oct. 27, 1987 5,000
Dec. 29, 1987 5,000
Mar. 13, 1988 5,000
In statements addressed to petitioner acknowledging receipt of
the foregoing payments or setting forth the outstanding balance
of his account, Caesar’s requested that petitioner make monthly
payments of between $5,000 and $10,000 to enable the casino to
continue to hold his account and reminding him that its
settlement offer was still open. In the statement dated March
15, 1988, Caesar’s informed petitioner that it could not retain
accounts indefinitely and that a 50-percent lump-sum settlement
previously presented to petitioner was open to discussion.
By March 1988, $80,000 of petitioner’s $435,000 debt to the
casino had been repaid, leaving a balance of $355,000, according
to the casino’s records. A letter dated April 20, 1988, from
Caesar’s general counsel to petitioner stated that the casino
required petitioner to pay his account in full immediately and
that, if he did not contact Caesar’s account representative
within 15 days, the casino would turn petitioner’s account over
to a law firm or a collection agency to institute legal
proceedings against him if necessary. The letter further stated
that (1) any suit commenced against petitioner would be filed in
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Last modified: May 25, 2011