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Trump Walks Away From Indiana Casino Deal

FRENCH LICK, IN-Citing a recent decision by the Indiana Tax Court and potential competition, publicly traded Trump Hotels & Casino Resorts say it is no longer going to develop a $123-million casino here that was slated to open in 2006.

By Brian K. Miller | Updated on March 02, 2005

FRENCH LICK, IN-Trump Hotels & Casino Resorts Inc. has ceased negotiations with the Indiana Gaming Commission for development of a $123-million riverboat casino here that was slated to open in 2006. Citing a recent decision by the Indiana Tax Court and potential competition, officials of the publicly traded company say it is no longer pursuing the deal.”The financial prospects for a casino in French Lick have changed since the time we were awarded the project,” says THCR president/COO Scott Butera in a prepared statement. “The tax burdens have become more onerous, and the proposition for additional gaming facilities in Indiana appears eminent.”As a result, Butera says THCR has ceased exclusive discussions with the gaming commission “at this time” but will continue to be part of the Indiana gaming industry through its Trump Indiana casino in the City of Gary, which it has operated since 1996. THCR also owns three casino-hotel properties in Atlantic City. Together, the properties comprise approximately 371,300 sf of gaming space and 3,180 hotel rooms and suites. The Indiana Gaming Commission chose THCR to develop the 11th hotel-casino in the state in French Lick in July. THCR beat out two other development teams–Orange County Development LLC, a group that includes NBA legend Larry Bird, and Lost River Development LLC, which is affiliated with the France-based casino operator Groupe Tranchant. Information was not available Wednesday on whether either of these two competitors will step up to the plate. In all three proposals, the casino was to sit on a manmade waterway running between the French Lick Springs Resort & Spa and the West Baden Springs Hotel.

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