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
- Peavey's wellness program honored after workers drop 1,000 pounds
- Group, lesbian couples look to overturn state's ban on same-sex marriages
- Pickering lists concerns over Mississippi Adequate Education Program formula
- Watkins says JRA out to block him from Farish by repaying HUD $1.5M
- Mississippi Film Studios signs contract with New Orleans company
- State renews battle over water use with city of Memphis
- Mars Food expanding Delta plant; investing $31M and adding jobs
- DAVID DALLAS: You say “Obama”, I say “Ebola”
- Biloxi baseball project still alive but may be held for 2015