Jim Justice, the new owner of The Greenbrier resort, tells Bloomberg News that reports that he assumed extensive debt in order to acquire the legendary property earlier this year are erroneous. "We assumed no debt aside from some creditors that were in the neighborhood of US$2 million to US$3 million," he says.
As a nearby resident, Justice says he was motivated to acquire The Greenbrier because he could not imagine it becoming part of a chain. Marriott International nearly bought the property from CSX Corp. before Justice made an 11th-hour maneuver to acquire it.
He says plans to build a casino at the resort are intended to breathe "energy" into the property, but he does not want The Greenbrier to become a gaming destination.
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