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Binion Wins Horseshoe's Indiana License Renewal

27 August 2001

GARY, Indiana –– As reported by the Associated Press: ``The Indiana Gaming Commission voted 6-0 Friday to renew the riverboat casino license for Horseshoe Gaming Holding Corp. despite questions about its chairman's business practices.

``Board members said an investigation found no reason to keep Horseshoe Chairman Jack Binion from doing business in Hammond, just across the state line from Illinois where regulators last year alleged he was unfit to run a riverboat casino.

``…In fact, Jack Thar, the commission's executive director, said he notified the Illinois Gaming Board about some of the concerns that led the board there to its decision about Binion, but said the Indiana commission didn't think the issues were worth denying the license.

``Among the 19 specific instances cited by the Illinois Gaming Board was that Binion allegedly used shell minority vendors in Louisiana to fulfill minority participation goals and had once posted a $2 million bond for a jailed high-stakes gambler in Nevada.

``…He is now suing the high-stakes gambler for a $3 million gambling debt.

``…But William Kunkle, an attorney for Binion, said it was incorrect to say that Illinois found Binion unfit to run a riverboat casino. He said it was simply a charge against him that eventually was dropped.

``…The license will now be granted on an annual basis, with a thorough investigation occurring every three years, Thar said…"

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