INDIANAPOPLIS — Conseco Inc. on Thursday announced that it has completed the sale of the Argosy Riverboat casino for $260 million.

The sale brings Conseco’s cash on hand to $700 million, enough to meet its June debt payment of $630 million, the company said.

The same week, Conseco had announced that it lost $378.7 million in the fourth quarter and more than $1 billion on the year.

The company has attributed its dismal performance to its 1998 acquisition of Green Tree Financial, now Conseco Finance Corp. Conseco’s stock dropped as much as 91% since thento less than $5, in mid-2000. The stock gained some ground, trading at $12.33 midday Friday.

Conseco’s new chairman and chief executive, George Wendt, said “goodbye and good riddance” to 2000 in a memo to shareholders. In guidance for the year the company said it expects to earn 90 cents to $1.10 a share in 2001.

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