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Miami Jai-Alai could be sold

13 September 2007

FLORIDA -- As reported by the Miami Herald: "If Miami-Dade County voters decide in January to allow slot machines at the county's parimutuels, the election could trigger the sale of venerable Miami Jai-Alai to a company that already owns casinos in Broward County and the Bahamas.

"The Isle of Capri, a St. Louis-based company with 18 casinos including four overseas sites, entered into an agreement in 2004 that gives the casino company first right to negotiate to purchase the Miami Jai-Alai property from owner Florida Gaming -- if the slots initiative passes.

"The two companies struck the deal before the 2005 election in which Broward voters approved slots but Miami-Dade voters narrowly rejected them. Isle of Capri already owns the Isle of Capri casino at Pompano Park, a harness track in Pompano Beach it bought in 1994, as well as a casino on Grand Bahama, part of the Our Lucaya resort.

"Adding a third casino in the region could create a profitable triangle of properties for Isle of Capri, said Allan B. Solomon, executive vice president and general counsel for the company..."

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