Movie News

Costner wins Deadwood Casino battle

Fri 10 Nov 1:30 PM

The South Dakota Supreme Court ruled that Kevin Costner does not have to sell any of his share of the Deadwood Casino of which he owns 93.5 per cent.

The Bodyguard star has been involved in a court wrangling with ex-business partners Francis and Carla Caneva. The Canevas were hired to manage operations at Costner's Midnight Star, an eating and gambling establishment where which pays homage to the 51 year-old actor's once buoyant career with costumes from his movies lining the walls.

Costner had given the Canevas a 6.5 per cent stake in the business, but after firing them in July 2004 he asked them to give up their share of the business. The Canevas declined and Costner subsequently dissolved them as partners.

The dispute was over the value of the casino. Costner had an accountant value the casino at $3.1 million, however, the Canevas had another Deadwood Casino owner testify that he would pay $6.2 million for the the Midnight Star. Costner appealed a judge's ruling that he should buy the casino at a higher price or sell it on the open market.

The South Dakota Supreme Court said that the property must be revalued and if it is found to be worth anything below the $4.9million that Costner invested in it, the Canevas will not be entitled to any money.