Majestic Star’s reorganization plan approved
TUNICA — The Majestic Star Casino, LLC, and certain of its subsidiaries and affiliates have received confirmation of its second amended joint plan of reorganization from the United States Bankruptcy Court for the District of Delaware.
The company said the court’s ruling and entry of a confirmation order following a hearing held on March 10 allows Majestic Star, which owns and operates Fitzgeralds Casino Hotel-Tunica, to implement a capital restructuring that reduces the company’s long-term debt from approximately $735 million to approximately $160 million.
“While the company still has some important steps to take before it officially emerges from Chapter 11, this is a significant milestone for Majestic Star,” said Don H. Barden, Majestic Star chairman, president and CEO.
Source: Majestic Star Casino, LLC
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- Ridgeland property rights tussle is expected to have wide impact
- Host families prepare for Mississippi Braves’ season
- JOSH MABUS — Mississippi’s Healthcare: Not a quality problem, a marketing problem
- Mississippi takes an incentives licking, keeps on ticking
- PHIL HARDWICK: When will Mississippi change its culture?
- Investors in Northbrook complex say Ridgeland targeting its own collateral for demolition
- AWAITING ITS FATE: Gables complex may have to shrink to meet law
- Bill would open hospital meetings, expand records access
- HUNTER ARNOLD: Mississippi, Gulf Coast states focus on global business markets