BREAKING: Lauth settles casino feud, agrees to sell stake

June 6, 2007

The warring partners in the $382 million French Lick Resort and Casino are parting ways.

Locally based Lauth Property Group has agreed to sell its 50-percent interest in the venture to an affiliate of Bloomington billionaire Bill Cook, the companies announced Wednesday night.

The deal would give Cook affiliates full ownership of French Lick Resort and Casino. Under the settlement, the partners are dropping all pending lawsuits and arbitration.

Financial terms were not disclosed.

The two owners had battled over nearly every aspect of the project. At one point, Cook attorneys scoffed that Lauth was treating the project "as if they were building a Best Buy or Home Depot."

The casino opened last fall.

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