ALTON, IL Argosy Gaming Co. agreed to acquire the remaining 13.5% stake of the Argosy Casino and Hotel in Lawrenceburg, IN, from Centaur for $105 million. Argosy expects the transaction to close sometime in the first quarter.
A company spokesman said Argosy will take a non-cash charge for goodwill amortization in the first quarter, but if the Financial Accounting Standards Board revises its policies on accounting for goodwill, the transaction could affect its first quarter earnings. Argosy bought Conseco s 29% stake in the Argosy Casino and Hotel for $260 million back in December. That deal is expected to close by March 31. (1/25/01)