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KING FACES SECOND TRIAL FOR FRAUD; IS ARUM'S GATE EXPANDING?

          Federal prosecutors on Monday opened their insurance
     fraud case against boxing promoter Don King by "telling a
     racially mixed jury that King didn't fight fair in his rise
     to the top of the boxing world," according to Greg Smith of
     the N.Y. DAILY NEWS.  This will be the second attempt by the
     government to try King "on charges that he stole $350,000
     from Lloyd's of London" in '91.  The first trial ended in a
     hung jury in '95.  The second trial is expected to last two
     months, and if convicted, King faces five years in prison
     and $250,000 in fines (N.Y. DAILY NEWS, 4/14).
          FOCUS ON ARUM: In FORBES, Peter Spiegel writes that
     with King "badly wounded," Bob Arum "looks poised to succeed
     him at the peak of the pugilism industry."   Even if King is
     "cleared, he has little chance of topping Arum," who has a
     "near lock on the growing loyal Hispanic market," with the
     "hottest young boxer in the world," Oscar De La Hoya, "on
     Arum's roster" (FORBES, 4/20 issue).  In Boston, Ron Borges
     wrote that Arum "claims to have persuaded" execs at Circus
     Circus in Las Vegas to increase a planned 8,000-seat arena
     they are building on Mandalay Bay to 12,000-seats.  He said
     that Mandalay Bay Resort could land a "big show" to open its
     new hotel next March or April (BOSTON GLOBE, 4/12). 

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