7th Circ. Says Casino Execs To Blame For Lost License

Law360, New York (August 11, 2017, 7:22 PM EDT) -- An Illinois federal court did not err when it handed down a $272 million judgment against six Chicagoland casino executives who allegedly caused their company to lose its gambling license and fall into bankruptcy, the Seventh Circuit said Friday.

Friday's ruling caps off the nearly 20-year odyssey of the Emerald Casino, a steamboat gambling operation whose “once-bright future turned bleak” as the company sought to graduate to a brick-and-mortar operation, a three-judge panel wrote. Emerald had been dragged down by persistent disregard for Illinois gambling rules...
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