Harrah’s gets OK to bid on Illinois license

Wednesday, Sept. 11, 2002 | 11:11 a.m.

Illinois gambling regulators say they are allowing Harrah's Entertainment Inc. to pursue the state's third gaming license.

The opinion, which is not a formal decision on the license, was offered in response to concerns by Harrah's that regulators might object to the company's market concentration in Illinois, where it already operates two casinos, the Chicago Daily Herald reported.

Harrah's Chief Executive Officer Phil Satre said he has received calls from leaders in the Chicago area who are interested in partnering with the Las Vegas-based casino operator to bid for the license, the Daily Herald said. The company expects to begin formal talks with potential partners, it said.

The state's last unused license was once earmarked for Emerald Casino Inc., which planned to launch a casino in the Chicago suburb of Rosemont. The licensing process was halted amid allegations of mob ties. Regulators are negotiating a settlement with Emerald that would offer the license for auction.

A federal bankruptcy judge last week ordered the operators of the Emerald to file for bankruptcy -- a ruling that's considered a victory for the village of Rosemont because it stalls the settlement between the casino company and the state.

That settlement would leave Rosemont without the casino it covets.