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Casino Aztar license approved

"The commission on Wednesday approved preliminary licensing of Casino Aztar in Caruthersville, Mo., to prospective buyer Isle of Capri Casinos Inc.

"St. Louis-based Isle of Capri has agreed to buy the riverboat for $45 million from an affiliate of Kentucky-based Columbia Sussex Corp. The purchase is expected to be completed within 60 days and is contingent on Isle's licensing by the state.

"...In an unprecedented move Jan. 3, the commission seized management control of the Caruthersville casino until new owners could be licensed. At the time, the action drew fire from Attorney General Jay Nixon, who claimed the commission had exceeded its authority but did not challenge it..."

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