The Indiana Gaming Commission Thursday approved a 50-percent share transfer in the French Lick Resort and Casino from Lauth Resorts and Casino to Cook Group-controlled entity. Executive director Ernest Yelton says the gaming commission is required to act upon any application of owner transfer greater than 5 percent. Lauth and Cook had joined forces to develop the French Lick property, but the collaboration has been marked by feuding and legal battles. Yelton says the companies were able to put their differences aside somewhat when the French Lick hotel reopened. But he says it wasn’t enough to save the partnership.
Lauth’s 50 percent stake in the French Lick Resort and Casino included the French Lick Springs Hotel, the West Baden Springs Hotel, and the French Lick Springs Casino. That stake is now under Cook’s control. Yelton says as part of the agreement, all pending litigation has been dropped.