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New setback for casino boats in N. Charleston - Live5News.com | Charleston, SC | News, Weather, Sports

New setback for casino boats in N. Charleston

NORTH CHARLESTON, SC (WCSC) -

Gambling boats may not be sailing to North Charleston anytime soon.

According to Hank Hofford, a Charleston businessman, his group is having trouble arranging the millions of dollars in financing needed to get the cruises going.

Hofford said banks are just not lending the money and private investors are not investing partly because of the economy.

He did say just because his business may not launch the boats that doesn't mean another company won't.

Casino boats were legalized in October, estimates were that the boats could bring in at least $700,000 thousand dollars a year.

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