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Emerald Operators Face Bankruptcy Ruling9 September 2002CHICAGO, Illinois – As reported by the Associated Press: "A federal bankruptcy judge has ordered the operators of the Emerald Casino to file for bankruptcy -- a ruling that's considered a victory for the village of Rosemont because it stalls a settlement between the casino company and the state that would leave the suburb without the casino it covets. "U.S. Bankruptcy Judge Eugene Wedoff on Friday ordered Emerald operators to file for bankruptcy by noon on Tuesday. "Rosemont officials want to delay the casino company's pending settlement with state gaming regulators because the deal forces Emerald to sell its gaming license. Rosemont officials want a new casino built there, but if the license is sold the new casino could go to another community. "The settlement is meant to put to rest a legal battle with Emerald that began in January 2001 when the board rejected the company's application to build a casino in Rosemont, a Chicago suburb near O'Hare International Airport. "…`It's great to hear,' Rosemont Mayor Donald E. Stephens said of the bankruptcy declaration. "`But I really don't know what to think of it at this time.'…" |