Miami Beach Millionaire Agrees to Pay $1.2 Million Gambling Debt to Mohegan Sun
Jerry Powers, who is the co-chairman and CEO of Plum TV, has been waging a legal battle with the casino for the past 18 months. Powers did not deny racking up the debt at the casino, but
claimed the credit agreement he signed was void under state law because Mohegan Sun, a Connecticut
casino, is owned by a sovereign nation. Powers also claimed that by giving him an unlimited line of credit, the casino engaged in an illegal gambling contract.
According to a spokesperson for Plum TV, “Jerry is currently in settlement discussions with Mohegan Sun to drop his appeal and pay his gambling obligations in full.”
The board of Plum TV convinced Powers to settle with the tribe and according to Plum TV officials, the incident occurred during a “dark period” in Powers' life when he was having trouble with substance abuse.