Partners aim to develop Wis. facility on tribal land

ALTON, Ill. -- Argosy Gaming Co., based here, entered into an agreement with Nii-Jii Entertainment to develop and operate a proposed gaming facility in Kenosha, Wis.

In a separate agreement regarding the same project, Nii-Jii Entertainment entered into an agreement with the Menominee Indian Tribe of Wisconsin to serve as the manager of the proposed casino project at the Dairyland Greyhound Race Track site in Kenosha.

Under its agreement with Nii-Jii, Argosy also will provide up to $35 million of subordinated debt for the project.

This financing commitment is dependent on the tribe's obtaining the requisite regulatory approvals -- including receiving approval from the U.S. Bureau of Indian Affairs to place in federal trust the proposed casino site for the benefit of the tribe -- and raising the remaining project costs.

Argosy Gaming Co. owns and operates several riverboat casinos and related entertainment and hotel facilities in the Midwest and South, including the Alton Belle Casino in Alton, Ill.; the Argosy Casino in Riverside, Mo., and the Argosy Casino-Baton Rouge in Louisiana.

Argosy also is the majority partner and operator of the Argosy Casino & Hotel in Lawrenceburg, Ind.

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