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Arkansas Securities Department Continues Fight Against Casino Corp. Stock Sale

12 October 2000

LITTLE ROCK, ARKANSAS – Oct. 12, 2000 – As reported by The Associated Press: "A judge ruled that the Arkansas Securities Department can continue a court fight against a casino group's attempt to sell stock in the gambling corporation.

"The department and Natural State Resorts Inc. have been going back and forth in court since 1997. Pulaski County Chancellor Vann Smith ruled Wednesday that a countersuit by the department can proceed against the casino group.

"Natural States is the parent corporation of Arkansas Casino Corp., which is behind proposed constitutional amendment to legalize casinos. The sale of stock would finance the corporation's effort to promote proposed Amendment 5 on the Nov. 7 ballot.

"…The proposed amendment would allow the company to build casinos in six Arkansas counties. It would also authorize a state lottery and legalize charitable bingo."

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