GAMING board approves plan to sell gambling license

The Illinois Gaming Board has approved a plan that allows the bankrupt Emerald Casinos Inc. to sell its license to Isle of Capri Casinos Inc. The board's decision Wednesday has removed a major hurdle for a casino in suburban Rosemont, despite opposition from state Attorney General Lisa Madigan. The Gaming Board still must investigate whether Isle of Capri is suitable to run an Illinois casino before a license is approved. The dispute between Madigan and the board began in March, when it chose Isle of Capri from three finalists vying to buy Emerald's license. The Mississippi-based company, which bid $518 million for the state's 10th license, was selected over Harrah's Entertainment Inc., which bid $520 million to build in Waukegan, and Midwest Gaming and Entertainment LLC, which bid $476 to build in Des Plaines. The board's staff had rated the Isle of Capri project last. Madigan immediately criticized the selection and said the board ignored safeguards meant to ensure a fair bidding process and disregarded the advice of its staff. She also has criticized the board's selection of a casino plan for Rosemont, saying the suburb might have ties to organized crime.