Gaming News

Indiana Developer Could Be Fined

INDIANA – As reported by the Louisville Courier-Journal: "The Indiana Gaming Commission is expected to vote tomorrow on whether to sanction developers of a casino in Orange County for failing to secure all financing for the $382 million project by a May 1 deadline.

"The disciplinary action, if approved as expected, would come nearly six weeks before the French Lick casino's unveiling, and as its partners remain locked in a contract dispute over ownership.

"The gaming commission is expected to review the proposal by agency staff to settle the matter against Blue Sky Casino LLC's partners -- Bloomington-based medical-device manufacturer Cook Group Inc. and Indianapolis real estate developer Lauth Property Group -- during an afternoon meeting in Indianapolis.

"…Blue Sky was the only bidder early last year after a deal with Donald Trump's casino company fell through. Cook and Lauth's plans include remodeling two century-old hotels and building a parking garage, a 1,200-slot casino, a convention center and an 18-hole golf course.

"…In a lawsuit filed in June in Orange Circuit Court, Cook's company, Orange County Holdings, claimed that Lauth failed to meet an April 15 deadline set by the parties to secure a $25 million loan, called a revolver…"

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