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Illinois Board Plans to Undo Casino Decision

ILLINOIS – As reported by the Chicago Tribune: "The newly revamped Illinois Gaming Board on Thursday began the process of undoing a previous board's decision to put a casino in suburban Rosemont, adding yet another twist to a years long melodrama that has cost the state dearly in lost tax revenue.

"The license designated for Rosemont has been moribund for eight years as wrangling over its use ground on in the courts, legislature and regulatory bodies. That, estimated newly appointed board Chairman Aaron Jaffe, has shorted the state $500 million in money it would have received had a casino been operating somewhere.

"Gov. Rod Blagojevich announced an overhaul of the board last month, and the new Jaffe-led panel wasted little time in weighing in on the Rosemont controversy. On Thursday, the panel announced a pair of decisions that could block the deal agreed to by the previous board that allowed bankrupt Emerald Casino Inc. to sell the state's 10th riverboat casino license to Mississippi-based Isle of Capri Casinos Inc., which wanted to build in Rosemont.

"Jaffe said the board would resume a long-suspended disciplinary hearing aimed at stripping the license from Emerald. He tapped retired federal Judge Abner Mikva to oversee the proceedings.

"Jaffe also said he has instructed board staff to halt a fitness examination of the Isle of Capri chain required before it could buy the Emerald license…"

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