He also said he’s been surprised, and gratified, that since he congratulated Skelton that Skelton has offered to share the wealth with him and four other relatives. Billy Newton, a Russellville pharmacist who led the family partnership that sold the property on which Skelton’s group scored a $2 million profit, said he also holds no ill will. He talked to me at length about development of the deal. Is there an ill appearance? Skelton says no.
One of the owners of Freestone is Justice of the Peace Doug Skelton, who’s been an advocate of the Cherokee casino from the outset, through its offer of a $40 million economic development package for local governments and a vote to rescind a local ordinance (ruled unconstitutional by a court) that required a Pope County vote before a casino could proceed. It’s drawn attention because it came April 1, barely eight months after Freestone had acquired the land from the Newton Brothers Partnership for $185,000, or about $30,000 an acre. It was sold to Freestone LLC for $2.2 million, or about $350,000 an acre. One transaction that has caused some local buzz was the sale of 6.2 acres, which touches Hob Nob Road just south of the proposed casino location at the Highway 334 exit from Interstate 40.
