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Panel rules on French Lick squabble

INDIANA – As reported by the Lousiville Courier-Journal: "A panel of three arbitrators has ruled in favor of Lauth Property Group and against a company launched by billionaire William Cook of Bloomington in a dispute over ownership of the French Lick casino, which opened Friday.

"The panel ruled 2-1 that Lauth Resorts & Casino will retain 50 percent of the ownership of the $382 million casino and hotel complex.

"Lauth's partner, Orange County Holding, which was started by Cook and is owned in part by his son, had argued that it should become the majority owner of the company because Lauth missed a key financing deadline.

"Orange County Holding said that, under the terms of their agreement, it should therefore get an automatic transfer of half of Lauth's ownership interest…"

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