Las Vegas Sun,
Wednesday, December 23, 2009 at 8:29:03 PM
Pounded by the recession and in default on its debt, Mesquite casino operator Black Gaming LLC today announced it is filing for Chapter 11 bankruptcy reorganization.
Black Gaming said it entered into a "lockup agreement" with the holders of approximately 70 percent of the company's $125 million in senior secured notes to restructure Black Gaming's debt and provide for an investment of capital into the company.
All operations of the company will continue under current management throughout the restructuring process, including payments to vendors, under normal trade terms without interruption, the company said.
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