http://msbusiness.com/blog/2011/11/16/lenders-to-foreclose-on-two-tunica-casinos/?utm_source=rss&utm_medium=rss&utm_campaign=lenders-to-foreclose-on-two-tunica-casinos Mississippi Business Journal Tue, 18 Jun 2013 19:28:50 +0000 hourly 1 http://wordpress.org/?v=3.5.1 http://msbusiness.com/blog/2011/11/16/lenders-to-foreclose-on-two-tunica-casinos/#comment-127393 Ross Wolf Sat, 19 Nov 2011 17:08:22 +0000 http://msbusiness.com/?p=48613#comment-127393 Allegedly to save 2000 worker’s jobs t according to this article: the New Jersey Casino Control Commission keep afloat a failing NJ casino, approved a plan for the casino’s lenders to pump in $15 Million—in exchange for being allowed to(foreclose and take possession) of two other losing-casinos owned by the NJ casino owner. This transaction serves to cancel the lenders’ mortgage debt on the failing NJ casino.
Will U.S. Taxpayers now be on the hook for losses the lenders may sustain on the two losing casinos, after they foreclose and take possession?

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