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Isle of Capri Still Aims for Chicago Casino

CHICAGO, Illinois – As reported by Reuters: "Isle of Capri Casinos Inc. (NasdaqNM:ISLE) aims to build a Chicago casino despite a disagreement between Illinois gambling regulators and the state attorney general about whether there is a license to sell.

"Just how the license, tangled in a legal battle, will get sold, is not clear, Tim Hinkley, Chief Operating Officer of Biloxi, Mississippi-based Isle, said in a Thursday interview.

"…A bankruptcy court overseeing the sale of Emerald Casino, which owns the license that Isle wants to acquire, approved that process this week. Isle won an auction for the license run by the Gaming Board in March with a bid of $518 million.

"…But Illinois Attorney General Lisa Madigan, concerned that the Chicago suburb of Rosemont where Isle plans to build may not be suitable, plans to take back the license for the state, with a hearing planned for July.

"…Hinkley saw the issue boiling down to whether the Gaming Board or the Attorney General won the upper hand…"

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