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$45 Million for Dairyland?

The owners of Dairyland Greyhound Park in Wisconsin have agreed in principle to sell the track to the Menominee Indian tribe for $45 million, with one big proviso: that the tribe receives local, state and federal approval to turn the track into a casino.

The tribe's chairman, who calls himself a betting man, said he was not taking any bets on that happening, and-borrowing from the Chinese—said the agreement was "the first step on a 1,000-mile journey."

The tribe, if successful in getting its casino, has another agreement calling for 35% of its profits to go to a management company headed by former Illinois congressman Morgan Murphy Jr. That company would finance and manage the casino. Industry analysts predict a casino in Kenosha, drawing from southern Wisconsin and northern Illinois, could produce a win of $500 million a year.

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