Records Show French Lick Partnership Collapse

As reported by the Louisville Courier-Journal: "Court records unsealed yesterday in Orange County reveal a collapse in the partnership of the two companies developing the state's 11th casino at French Lick.

"At issue is control of the $382 million project and the role of William Cook, a billionaire businessman from Bloomington who is intimately involved although he doesn't have an ownership stake.

"Lauth Property Group, one of the partners in Blue Sky Casino LLC, wants Cook out. It says in one of the two lawsuits unsealed yesterday that Cook routinely approves lavish spending — including gold leaf for a hotel lobby — without any authority to do so.

"Indiana Gaming Commission Chairman William Barrett of Greenwood confirmed yesterday that the agency has assigned two top investigators to look into the dispute and Cook's role in the project. The commission has not licensed Cook to be a decision-maker and may have to do so, Barrett said.

"It was unclear yesterday what impact the dispute would have on the project, which has been billed as an economic savior for Orange County…"

2006-08-01