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Online Casino News for Saturday - January 31, 2004

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Online Casino News
Reports: Gaming company offers $500 million for casino license - 2004-01-31
A Pennsylvania company has supposedly bid 500 (M) million dollars for Illinois' last-available casino license.

And both the Chicago Sun-Times and the Chicago Tribune today report that Penn National Gaming proposes transferring the license back to the state in exchange for long-term management rights. If the bid were to be accepted, Illinois would be the first state to own a casino.

Penn National owns Hollywood Casino in Aurora. And the newspapers report that its bid is at least 150 million dollars more than any of the other bids on the license.
Read the full story at WLS
 
Stillaguamish Tribe Secures Loan For Casino - 2004-01-31
The Stillaguamish Tribe has lined up a $19 million loan from Marshall Bank of Minneapolis to build a casino on 20 acres of federal trust land which belongs to the tribe a few miles northwest of Arlington.

The move follows an earlier attempt to gain financing for the proposed casino, a deal with a Detroit carpenters union, that became a sticking point for the state Gambling Commission. The union's trustees balked at state regulators' insistence on criminal background checks.
Read the full story at GamblingMagazine.com
 







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