$506M bid plan for state-owned casino - 2004-02-03
Illinois would become the first state to own a casino, under a $506 million bid put forward by a gambling hall operator.
Penn National Gaming, a publicly held company, is bidding for Illinois' last remaining casino license. It is proposing 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 said. Penn is bidding against six other companies.
Read the full story at Seattle Daily Journal of Commerce