Isle
of Capri Pays $14.3 Million Settlement
As reported by the Mississippi
Sun Herald: "Isle of Capri Casinos Inc.
has agreed to pay $14.3 million to settle a
lawsuit stemming from a decision four years
ago to scrap plans for a gambling and entertainment
complex near Kimmswick.
"Jefferson
County officials announced the settlement Friday.
The suit, filed in December 2002, alleged company's
decision to withdraw its application for the
$105 million development was a breach of contract.
"The
plan, calling for development of 46.5 acres
on the Mississippi River, was withdrawn in September
2001 amid local opposition and regulatory problems.
"Allan
Solomon, the executive vice president of the
Isle of Capri, based in Biloxi, said he didn't
believe the company breached its contract when
it withdrew from the project, but that it wanted
to avoid a lengthy trial set to begin next month…"
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