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| Rosemont casino approval denied |
8/17/2001 Emerald and MGM Mirage Deal Off? Illinois gaming officials have announced to Emerald and MGM Mirage lawyers acting on behalf of a proposed Rosemont casino this week that Emerald?s plan to sell their state gaming license to MGM Mirage was ?dead on arrival?. This week, state officials informed representatives of Emerald Casino Inc. that the Illinois Gaming Board would not approve, or even consider, a transfer of the license from Emerald to MGM Mirage. They emphasized the point that Emerald does not have the right to trade their gaming license, and that they wanted them to surrender the license to the state. "Kevin Flynn, one of the majority stakeholders in Emerald together with his father Donald Flynn, commented briefly, ?I am very surprised that a regulatory board, acting as a fiduciary for the state, does not want to consider at this time a proposal that would end the litigation and begin allowing the 10th license to generate taxes and jobs for the state of Illinois.? At the beginning of the year, the Gaming Board denied the plans for the Rosemont casino on the basis of alleged ?false and misleading? statements made by the Flynns, charges that they vehemently deny. Perhaps this explains Flynn?s reluctance to comment further on recent proceedings. |
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