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Casino and Gambling Debts Push NBA Star into Bankruptcy
MIAMI, FLORIDA --
Former NBA All-Star Antoine Walker filed for personal bankruptcy this week, as debts including unpaid casino loans and gambling markers overwhelmed the basketball player's remaining assets. Despite making over $100 million during the course of his career, Walker listed only $4.3 million in assets, while detailing more than $12 million in debt.
Walker had been in the news several times in the past year, as he had been detained in Reno for lack of payment on markers taken out at casinos in Las Vegas run by Harrah's Entertainment. He avoided criminal prosecution on almost $800,000 in unpaid gambling debts by agreeing to make payments to the Las Vegas District Attorney's Office, a solution which begged the question where new income would come from for the unemployed player.
Walker was served earlier this month with foreclosure papers on a $2.3 million house he had bought for his mother outside Chicago. The action spurred the Chapter 7 bankruptcy, which will force Walker to sell his other homes, worth a reported $4 million, to help satisfy creditors.
Walker noted the money owed to the Las Vegas casinos, and also listed another half-million dollars owed to the Ameristar Casino outside Chicago for gambling loans.
Walker told the court his family and he spend almost $80,000 a month in routine living expenses. His ex-fiancee was one of the stars of the reality show "NBA Wives," on which she was shown living a lavish Miami lifestyle replete with dozens of people catering to her desires, including a personal event planner and a stylist/advisor.
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