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.
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Mad Genius, Eyevox owner acquires Mississippi Film Studios
- Grain buyer’s bankruptcy could take steep toll on Delta farmers
- UPDATE — David Watkins says JRA left him in dark about HUD's Farish St. involvement
- Payday lender, fired executive exchanging blame for lender’s regulatory woes
- UMMC reaching out after death of high school football player
- Mississippi no longer has highest unemployment rate in nation
- Report: Mississippi has worst child poverty rate in U.S.
- Fitch gives Mississippi Power a negative outlook due to Kemper plant
- UPDATED: Jackson agrees to repay HUD $1.5 million for Farish Street blunders