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Majestic Star Casino LLC files for Chapter 11

Mon Nov 23, 2009 1:42am EST

(Reuters) - U.S. casino operator Majestic Star Casino LLC and 7 affiliates filed for Chapter 11 bankruptcy, court documents showed.

U.S.

In a filing on Monday with the U.S. Bankruptcy Court for the District of Delaware, the gaming company listed estimated assets in the range of $100 million to $500 million and estimated liabilities in the range of $500 million to $1 billion.

The gaming company currently has $300 million of 9.5 percent senior secured notes, due October 2010, and $200 million of 9.75 percent senior notes, due January 2011, outstanding, according to its website. It also has an $80 million revolving credit facility maturing in April 2010.

Majestic Star operates casinos in Indiana, Mississippi, Nevada and Colorado.

The case is In re: Majestic Star Casino, U.S. Bankruptcy Court, District of Delaware. No. 09-14136.

(Reporting by Ajay Kamalakaran in Bangalore; Editing by Lincoln Feast and Simon Jessop)
U.S.


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