Illinois Gambling Board to Sell Emerald Casino License
On July 17th, 2008, the Illinois Gaming Board is hoping to sell the state's remaining casino license by the end of 2008, with a goal of finally earning profits from the long-dormant casino license by next summer. State gaming regulators laid out the latest moves to sell the tenth casino gaming license of Illinois, which was confiscated from the Emerald Casino because of charges of ties to the mob and lying about important facts to gambling officials.
The revocation process of the gaming license started in 2001 and it only ended last November 2007 when the state Supreme Court decided to throw the appeal of Emerald Casino. Applications to buy the license will begin on Friday and are due back, with the corresponding bids and site locations in September or early October.
The winning bid will be decided from 3 finalists, who will get the opportunity to improve their offers. Gambling Board Chairman Aaron Jaffe commented that he would not guess on Rosemont's chances of being pick as a casino location again.
Rosemont spokesperson Gary Mack commented that suburb remains interested on the prospect and has a location ready. The state has lost around $1 billion or more in tax profits while the Emerald license has stay dormant.
08/05/2008 04:34 PM
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