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
- WILLOUGHBY: Bernie Reed cites hard work as key to success of Reed’s Metals
- Half century of memories — Christmas on Deer Creek to celebrate 50th anniversary
- Analyst: KiOR Columbus plant may end up sold as scrap
- (UPDATE) Gov. Bryant: $1.2 billion aluminum plant is a very exciting proposition for the state of Mississippi
- Ex-MDEQ leader Fisher joins Butler Snow
- Former MDEQ Executive Director Trudy Fisher joins Butler Snow
- Gulf oil rig explosion kills one worker, injures three
- Can Metrocenter rise from the ashes? Again
- Federal appeals court: State's abortion law is unconstitutional
- Court hits David Watkins with $600,000 order over Retro Metro issues