from today's Crain's Chicago Business
Emerald Casino ends fight to keep license: lawyer
Dec. 31, 2007
"(AP) — Emerald Casino Inc. has ended years of legal battles to keep control of its long-dormant state gaming license, an attorney for the company says." ...
"Emerald, which hasn't been in operation since 2001, has fought for the right to control the gaming license for years. But state courts have rejected the company's arguments and the Illinois Supreme Court turned down an appeal in November.
The Illinois Gaming Board revoked Emerald's gambling license in 2005, ruling that company officials lied to regulators and let people with ties to organized crime become investors.
The Gaming Board has said it wants to auction the dormant license in early 2008." ...
"State gaming regulators have claimed that the state lost $1 billion in revenue because the license — one of only 10 casino licenses for Illinois — has not been used." ...
for the complete story see:
http://chicagobusiness.com/cgi-bin/news.pl?id=27594
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