Casino Aztar in hands of regulator

1 April 2008

INDIANA -- As reported by the Indianapolis Star: "The fate of Casino Aztar will be in the hands of Indiana gambling regulators this week, a little more than a year after the troubled boat was taken over by Kentucky hotel magnate William Yung III.

"The Indiana Gaming Commission, which is to convene at 1 p.m. today in Indianapolis to consider the Evansville boat's license, could take control of the facility or tighten the leash on parent Columbia Sussex Corp. until the casino can be sold.

"But as of Friday, there's no buyer in these uncertain economic times, although Aztar -- Indiana's first casino -- has been on the market since December.

"...Several reports estimated the casino's sale price at $225 million. Whatever the commission does will be closely watched, because the Fort Mitchell firm was barred from operating casinos in New Jersey and is under scrutiny in several states. Its Web site says it operates 10 casinos..."


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