Gaylord Entertainment Faces SEC Investigation

The U.S. Securities and Exchange Commission is investigating Gaylord Entertainment over revised historical financial statements issued after the Nashville-based company hired a new auditing firm. The revisions were made to reflect certain non-cash changes resulting primarily from a change to the Gaylord’s income tax accrual and the manner in which the company accounted for its investment in the Nashville Predators hockey team. In its second-quarter financial report issued Wednesday (July 31), Gaylord Entertainment stated that it “has been cooperating with the SEC Staff and intends to continue to do so.” Gaylord Entertainment’s holdings include upscale hotels in three states, along with the Grand Ole Opry, the Ryman Auditorium and WSM-AM radio in Nashville. 07/31/03