$506M proposal project for state-owned casino - 2004-02-03
Illinois would become the first state to control a casino, under a $506 million proposal submitted by a gambling hall operator.
Penn National Gaming, a publicly held company, is proposing for Illinois' last remaining casino license. It is asking to construct a $255 million casino, sell it to Illinois for $1, and then manage it for the state, a source close to the bidding process reported. Penn is competing against six other companies.
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