ARGOSY GAMING COMPANY ENTERS INTO AGREEMENT IN BATON ROUGE, LA.
ALTON, Ill., July 7 /PRNewswire/ -- Argosy Gaming Company (NASDAQ: ARGY), operators of the Alton Belle Casino II, the first riverboat gambling casino in Illinois, announced today that it has entered into an agreement with Jazz Enterprises, Inc. to construct and operate a riverboat casino on the Mississippi River located in the city of Baton Rouge, La., in the area known as Catfish Town." Jazz Enterprises, Inc. has received preliminary approval from the Louisiana Riverboat Gaming Commission for issuance of a gaming license. Under the terms of the agreement, Argosy Gaming and Jazz Enterprises will form an entity under which Argosy would own and control 90 percent of the entity and Jazz would own and control 10 percent of the entity. Argosy would lease from Jazz the property to be developed, and would be the majority owner as well as operator of the new gaming vessel, which is to be built immediately by Avondale Industries, Inc. Jazz will pursue a Louisiana Gaming License by including Argosy as operator of the vessel. -0- 7/7/93 /CONTACT: G. Dan Marshall of Argosy Gaming Company, 618-474-7666/ (ARGY)
CO: Argosy Gaming Company; Jazz Enterprises, Inc. ST: Illinois, Louisiana IN: CNO SU:
SH-SM -- NY057 -- 9155 07/07/93 15:20 EDT
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|Date:||Jul 7, 1993|
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