ROUGH WATER DEALING WITH RIVERBOAT CASINOS

July 29, 2001 8:29 PM
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Gambling moguls have left riverboat casino operations in Illinois, Louisiana and Missouri in recent months due to heavy pressure from state regulators.

"It is a pattern that is disturbing," said the Rev. Tom Grey, executive director of the National Coalition Against Legalized Gambling. "Now we've got regulatory bodies that are acting as laudromats."

Across the country, riverboat casino owners in trouble with state regulators have found profit in their problems. The owners have sold their interests for profit to escape heavy fines and loss of licenses.

Gambling regulators in Chicago found Horseshow Gaming mogul Jack Binion unfit to run a riverboat casino in Illinois so he sold out for $465 million.