Hyatt takes different route in casino chase - 2004-02-06
Hyatt Development Corp. and Mandalay Resort Group have thrown the latest wild card into the derby for Emerald Casino Inc.'s dormant license by offering to give the state the majority of the annual profits from a proposed casino in south suburban Summit rather than paying a lump sum for the license.

Mandalay Hyatt LLC's $20-million offer was the lowest of the seven bids released Thursday by the Illinois Gaming Board. The company's proposal is designed to limit its upfront costs for the license by stretching out payments to Emerald's creditors and investors and avoiding a windfall payment to the state. In return, the company would give the state two-thirds of the profits from the Summit casino.
Read the full story at Crain's Chicago Business

Big downtown gamble pays off - 2004-02-06
A downtown casino has lately become insolvent by hauling overwhelming debt even though it had sizeable cash flow, but before hitting absolute ruin, another big casino operator bought the place save the day.

When Harrah's bought the Horseshoe last month, it was, in fact, a repeat performance of the same foresight and strategic maneuvering which had been applied successfully three years earlier by Don Barden to rescue Fitzgerald's Casino from bankruptcy.
Read the full story at Las Vegas Business Press