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