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The Chip Board Archive 04

Argosy-Lawrenceburg, IN news

Looks like the Argosy-Lawrenceburg, IN boat with "Indiana Gaming L.P." on their chips may be changing their chips to Argosy name in the near future. See news story below where they are buying out the other partners and will soon own 100% of the property.

I hope they make the new chips distinctively different; otherwise, the originally-made & cancelled chips may be confused with the to-be-issued chips.
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Argosy Gaming Company Acquires Minority Partner's Interest in Lawrenceburg
February 23, 2001

ALTON, Ill., Feb. 22 /PRNewswire/ via NewsEdge Corporation -

Argosy Gaming Company (NYSE: AGY) today announced
that it has closed its purchase of the 29% limited
partnership interest in the Argosy Casino and Hotel in
Lawrenceburg, Indiana from Conseco Entertainment, LLC
("Conseco"). The purchase price for the minority interest
was $260 million and includes the repayment of
Conseco's preferred equity interest and outstanding
partner loans. The Company and Conseco have also
settled all pending litigation between the partners. ...

James B. Perry, President and Chief Executive Officer,
commenting on the transaction, said, "We are extremely
pleased to now own 86.5% of our flagship property in
Lawrenceburg and look forward to purchasing the
remaining 13.5% minority interest that we do not
currently own by the end of the first quarter. This
transaction positions us closer to owning 100% of all of
our properties and represents another step taken in our
efforts to maximize value for our shareholders."

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