Settlement finalized between Deadwood Mountain Grand and EB5 investors
DEADWOOD, S.D. – The Deadwood Mountain Grand and investors from the EB5 program finalized settlement on Friday, August 16, ending all litigation.
With the settlement comes a new era of leadership for the Deadwood Mountain Grand Resort, as long-time member Dale Morris takes the helm as the managing member.
A well-known booker in the Nashville music industry and long-time investor in the Deadwood Mountain Grand, Morris funded the settlement that brought the litigation to an end.
As a result of this funding, attorneys resolved the $32.5 million outstanding debt plus interest.
“Mr. Morris has shown an extraordinary commitment to the employees of the Deadwood Mountain Grand as well as to the City of Deadwood and the entire Black Hills region,” states lead attorney Kasey Olivier of Olivier Miles Holtz.
With the cloud of litigation lifted, Dale Morris looks forward to implementing new opportunities that will benefit the employees and patrons of the Deadwood Mountain Grand.
“Deadwood Mountain Grand has made an undeniably positive economic impact to Deadwood and the region and are an asset to the community,” said Deadwood Chamber & Visitors Bureau Director Lee Harstad. “They host more than 40 shows annually, plus bring in a number of groups throughout the year, all impacting the bottom line of businesses throughout town and the city alike. We’re grateful for Dale Morris stepping in and leading Deadwood Mountain Grand’s charge in to the future.”