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Emerald Casino Gives Up Fight For License

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Dec 31, 2007 7:41 am US/Central

Emerald Casino Gives Up Fight For License

Decision Ends 6-Year Legal Battle

CHICAGO (AP) ― An attorney for Emerald Casino Inc. said the company has ended years of legal battles to keep control of its long-dormant state gaming license.

"There are probably three or four additional litigation options that are still available to Emerald," said attorney Robert Clifford. "The short of it is, after careful review of all the available options, the Emerald board has decided to cease further litigation activities."

Emerald, which hasn't been in operation since 2001, has fought for the right to control the gaming license for years. But state courts have rejected the company's arguments and the Illinois Supreme Court turned down an appeal in November.

The Illinois Gaming Board revoked Emerald's gambling license in 2005, ruling company officials lied to regulators and let people with ties to organized crime become investors.

The Gaming Board has said it wants to auction dormant license in early 2008.

Aaron Jaffe, chairman of the Gaming Board, said gambling regulators want to choose an investment-banking firm to help with the auction before the end of February.

"We should move ahead as soon as possible," Jaffe said.

State gaming regulators have claimed that the state lost $1 billion in revenue because the license -- one of only 10 casino licenses for Illinois -- has not been used.

In 2001, the Gaming Board decided for the second time not to renew the casino's license. At the time, Emerald operated in the Galena area and wanted to relocate to suburban Rosemont, which spent years and millions of dollars trying to lure the project.

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