Owners of DiamondJacks Casino bankrupt; selling to Chickasaws
Published: August 3,2012
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.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- A BIG CHANGE: New mortgage rules seen bringing increase in pricey mobile home loans
- Analyst: KiOR Columbus plant may end up sold as scrap
- DAVID DALLAS: Savor this Thanksgiving and be grateful
- Jail kitchen supervisor pleads guilty to stealing food
- Warden who lives hundreds of miles from jail resigns
- Nehi Bottling Company has been a Cleveland fixture for 85 years
- WILLOUGHBY: Bernie Reed cites hard work as key to success of Reed’s Metals
- (UPDATE) Gov. Bryant: $1.2 billion aluminum plant is a very exciting proposition for the state of Mississippi
- Hunting-weapons legislation passes House