Thursday, September 14, 2006

As reported by the Louisville Courier-Journal: "The Indiana Gaming
Commission is expected to vote tomorrow on whether to sanction developers of
a casino in Orange County for failing to secure all financing for the $382
million project by a May 1 deadline. "The disciplinary action, if approved
as expected, would come nearly six weeks before the French Lick casino's
unveiling, and as its partners remain locked in a contract dispute over
ownership. "The gaming commission is expected to review the proposal by
agency staff to settle the matter against Blue Sky Casino LLC's partners --
Bloomington-based medical-device manufacturer Cook Group Inc. and
Indianapolis real estate developer Lauth Property Group -- during an
afternoon meeting in Indianapolis. ".Blue Sky was the only bidder early last
year after a deal with Donald Trump's casino company fell through. Cook and
Lauth's plans include remodeling two century-old hotels and building a
parking garage, a 1,200-slot casino, a convention center and an 18-hole golf
course. ".In a lawsuit filed in June in Orange Circuit Court, Cook's
company, Orange County Holdings, claimed that Lauth failed to meet an April
15 deadline set by the parties to secure a $25 million loan, called a
revolver."