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The Chip Board Archive 05

MGM Having Problems with Rosemont Buyout

It appears that no sooner did MGM Mirage file documents declaring their intent to work out a buyout of the stalled casino in Rosemont, near O'Hare Airport just west of Chicago, the Illinois Gaming Commission has moved to stop the potential buyout. One of the concerns mentioned is that they are concerned that the individuals who they voted last January to deny the license to will be making a tremendous profit off of a potential sale. It was reported that the sale could be as much as $600 million. The Empress in Joliet, for comparison, was sold by Binion to Argosy for $475 million. The Empress buyout was just approved earlier this week.

Today's articles from Chicago's daily newspapers

Emerald casino buyout hits wall
State regulators move to stop sale to MGM Mirage

http://www.chicagotribune.com/news/chi-0107270239jul27.story

MGM may buy Emerald casino
http://www.suntimes.com/output/news/cst-nws-gamb27.html


Copyright 2022 David Spragg