A private partnership's ability to open an Orange County casino in early November should not be hampered by its failure to arrange all of its finances on time, the state's top casino regulator said Wednesday. Ernest Yelton, executive director of the Indiana Gaming Commission, also said he was confident that a dispute between partners of Blue Sky Casino -- a joint venture between Indianapolis real estate developer Lauth Property Group Inc. and Cook Group Inc., a Bloomington medical device manufacturer -- would not impede progress of the $300 million project.
[...] since peaking last year, Lauth's publicly traded development peers have shed 13 percent (Simon Property Group Inc.), 46 percent (Duke Realty Corp.) and 23 percent (Kite Realty Group Trust) of their stock-market value. In that span, it moved into some of the nation's fastest-growing markets, including Denver, Dallas and Charlotte, N.C. Its $592 million in 2006 projects helped the company snag the 13th spot on Commercial Property News' 2007 list of top U.S. developers, a ranking the firm held onto in 2008. When we hit certain events in the commercial real estate markets that cause demand to decrease, it's just not unusual for people to have to cut back.
The gaming company that was supposed to run the Orange County casino has dropped out of the project. But Blue Sky LLC, the coalition of two companies picked to build the casino, said it will create a gambling company from scratch by hiring its own casino management team. Blue Sky LLC is a joint venture between Lauth Resorts & Casino LLC, an affiliate of Lauth Property Group Inc., and Orange County Holdings Inc., a not-for-profit formed by Cook Group. Blue Sky won conditional approval for the contract to run the Orange County casino in June. They hired Benchmark Hospitality to oversee the hotel portion and were in negotiations to hire Majestic Star LLC, which runs a riverboat casino in Gary, to manage the casino.
Two grand hotels that once attracted gamblers and movie stars would be restored to their former glory by two companies seeking a casino license dropped by Donald Trump's company. The hotels would become upscale lodging that Cook Group Inc. and Lauth Property Group Inc. hope can draw gamblers, golfers and tourists.
A medical device maker and a real estate developer said Monday they will seek the license to operate a casino in Southern Indiana's Orange County as part of a $240 million plan to turn the area into a destination resort. The Cook Group Inc. and Lauth Property Group Inc. said they would hold a public meeting today at the French Lick Springs Resort and Spa to discuss their plans. The proposed casino would direct half of its profits to charitable and philanthropic purposes within the state, the companies said in a news release.
...CL: JB Wholesale Roofing . C= Twins Roofing Inc. . O= Vaughn Next Century . Learning Center . Site...C= New England Plumbing . O= Adel Wiggins Group . Site: 5000 Triggs St. Commerce . Lien $5.402 . 1...C= Lauth Property Group Inc. . O= The SYGMA Network Inc. . ...
... when it negotiated a six-year partial property tax abatement in 2001, city spokesman Justin Ohlem...Its products include aerospace parts and hydraulic gear for trucks and ... senior vice president for Indianapolisbased Lauth Property Group Inc., which manages Intech Park. Pa...
... Taylor Fort Wayne President & CEO 2 Biomet Inc. $2.1 bil. Jeffrey R. Binder Warsaw President & CE...Robert G. Hunt Group Inc. Chairman & CEO Indianapolis 6 Cook Group Inc....President & CEO Indianapolis 27 Lauth Property $408 mil. Robert L. Lauth Group CEO & Cha...
... Forest Health Services told park manager Lauth Property Group Inc. that it would shutter the buil...
Bloomington-based Cook Group Inc., the co-developer of the $382 million Orange County casino, says it remains committed to the project despite an ongoing legal dispute with its casino partner. The company's statement, released Friday, came three days before details of the dispute between Cook Group and Indianapolis-based Lauth Property Group are expected to be revealed.
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