Owners of DiamondJacks Casino bankrupt; selling to Chickasaws
by Associated Press
Published: August 3,2012
Tags: bankrupt, bankruptcy, bench, casino, convention, courts, entertainment, gaming, gammbling, hospitality, hotel, lodging, meeting, nightlife, restaurant, sale
VICKSBURG — The owner of casinos in Vicksburg and Bossier City, La., has filed for bankruptcy and plans to sell its casinos to an Oklahoma Indian tribe.
Legends Gaming filed for Chapter 11 bankruptcy reorganization in Shreveport, La. The company says it will sell its DiamondJacks casinos to Global Gaming Solutions for about $27.5 million, if the bankruptcy court and state gaming regulators approves.
Global Gaming is owned by the Chickasaw Nation of Oklahoma.
Legends, which also filed for bankruptcy in 2008, tells the Vicksburg Post no workers will be laid off. DiamondJacks employs 339 people in Vicksburg, according to the Mississippi Gaming Commission.
In its bankruptcy filing, Legends listed assets between $50 million and $100 million and liabilities between $100 million and $500 million.
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