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Judge says Eldorado can buy Hollywood Casino

Monday, June 20, 2005 | 11:06 a.m.

SHREVEPORT, La. -- Eldorado Casino may indeed buy the Hollywood Casino out of bankruptcy court, a federal bankruptcy judge has ruled.

Judge Stephen V. Callaway made the announcement after an all-nighter that he refused to end until everyone involved agreed.

"I think we need to get this casino in the practice of making money and keeping it rather than making money and paying lawyers with it," he said Sunday, outlining details worked out during the 22-hour session in his chambers.

Eldorado expects to seek Louisiana Gaming Control Board approval in July, and it's possible that the change to the new brand could take place before the holiday season, said John Hull, president of Hollywood managing partner HCS I Inc.

The Reno company has been told it has a 99 percent chance of getting approval. Eldorado submitted its application early last fall.

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