Isle of Capri Casinos victorious in license auction - 2004-03-16
Its bid wasn't the largest, but Isle of Capri Casinos Inc. still defeated the gaming trade's Goliath for the license of bankrupt Emerald Casino Inc. with a sweetener-laced $518 million offer.
The bankruptcy estate of Emerald Casino and its creditors have each filed individual liquidation plans. Both plans, however, make Emerald Casino's unsecured creditors and previous shareholders whole on their $120 million in claims, thanks to the returns of the sale of the gaming license.
Read the full story at TheDeal.com