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Trump Still Bidding for Indiana Casino

INDIANAPOLIS, Indiana – As reported by the (Louisville, Kentucky) Courier-Journal: "A heavy debt load and grim predictions about its future will not stop Trump Hotel and Casino Resorts from bidding to operate a gambling boat in Orange County, a company executive said last week.

"Bob Pickus, executive vice president and general counsel, said he is confident Trump can arrange financing for a casino at French Lick, despite warnings that the company is drowning in debt.

"…A gaming-industry analyst said last week, however, that Trump is not a good choice and may not even be able to afford the project.

"…[Dennis Forst of KeyBanc Capital Markets,] whose company has no holdings in Trump Hotels but does have an interest in other casinos, also said Trump does not have the 'depth of management' needed for the project.

"…Trump, which runs three casinos in Atlantic City, N.J., and a gambling boat in Gary, Ind., is one of three companies expected to bid this month to operate the Orange County casino.

"…The Indiana Gaming Commission, which will determine who operates the Orange County casino, will consider Trump's financial situation when reviewing the bids, said the agency's spokeswoman, Jennifer Arnold. The commission investigates the financial stability of all companies seeking a casino license…"

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