Bankruptcy

December 26, 2015

Casino News, Latest Casino and Gambling News, U.S.A., Las Vegas, Economy/Finance, Taxation, Bankruptcy, Nevada

On December 18 the House and Senate passed a $1.1 trillion omnibus tax & spending bill that averted a shutdown of the US government. President Obama signed it into law the same day. Included in the bill wer...

US federal court issues entry of default vs $2.5m of still-shuttered Tinian Dynasty Casino

December 25, 2015

Latest Casino and Gambling News, Licenses, Oceania Casino News, Conspiracy, Bankruptcy, Fines, Lawsuits & Litigation, Northern Mariana Islands

Last Friday, Assistant U.S. attorney Russell H. Lorfing requested that the U.S. District Court for the NMI issue a default judgement against Tinian Dynasty as they had failed to contest a forfeiture action on ...

Tinian Dynasty owner files for bankruptcy, plans to reopen

December 15, 2015

Latest Casino and Gambling News, Casino News, World Casino News, Licenses, Bankruptcy, Northern Mariana Islands

A week ago it was announced and confirmed that Tinian Dynasty Casino in the Commonwealth of Northern Mariana Islands (CMNI) had applied for permission to reopen today and it had been granted contingent upon con...

Chinese company takes first position on Baha Mar with $50m finance deal

December 7, 2015

Latest Casino and Gambling News, Casino News, China, New Hotels, Casino project updates, Bahamas, Economy/Finance, Mergers, Acquisitions & Partnerships, Bankruptcy

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China Harbour Engineering Company (CHEC) has financed the bank-appointed receivers of Baha Mar Resort, Deloitte & Touche, with $50 million as a preferred lender, moving to the top of the queue to be repaid,...

Sun City, Mohegan Sun founder Kerzner may take over Baha Mar

November 14, 2015

Casino News, Latest Casino and Gambling News, China, New Hotels, Bahamas, Casino project updates, Economy/Finance, Mergers, Acquisitions & Partnerships, Bankruptcy

The $3.5 billion Baha Mar Resort in the Bahamas was so close to opening in March that people were booking rooms. However disputes between the developer, contractor, and financier resulted in a construction slow...

Caesars upbeat; cites Cherokee Valley River and new social environments for millennials

November 12, 2015

Latest Casino and Gambling News, Tribal Gaming, Las Vegas, Casino News, Economy/Finance, Bankruptcy, Nevada, North Carolina

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Caesars Entertainment Corp. took more than a three-quarter billion dollar hit on their third quarter financials due to costs associated with the restructuring of a bankrupt subsidiary, promising nearly $1 billi...

December 15th Deadline to be missed by Examiner investigating Caesars restructuring efforts

November 8, 2015

Latest Casino and Gambling News, U.S.A., Bankruptcy, Fines, Lawsuits & Litigation

The restructuring efforts of Caesars Entertainment Operating Company is currently being investigated by an examiner, former federal prosecutor Richard Davis. The report by Davis was scheduled to be ready by the...

Chinese government bank forecloses on Baha Mar in Bahamas

November 4, 2015

Latest Casino and Gambling News, Casino project updates, Bahamas, Bankruptcy

Close to six weeks after bankruptcy protection from the United States was thrown out for the Baha Mar Resort the the Bahamas, their Chinese lender has now decided to foreclose on the Bahamas property. The Expor...

Fresno’s Club One casino files Chapter 11

October 16, 2015

Latest Casino and Gambling News, Casino News, North America Casino News, Gaming Industry News, California, Bankruptcy, Fines, Lawsuits & Litigation

On Wednesday Club One a popular casino and restaurant in downtown Fresno, California filed for bankruptcy in U.S. District Court. The ownership group led by Kyle Kirkland, Club One Casino Inc.’s president, f...

Nearly $8 million spent on Showboat Casino by Stockton U

October 14, 2015

Casino News, Latest Casino and Gambling News, North America Casino News, Gaming Industry News, Mergers, Acquisitions & Partnerships, Bankruptcy, Fines, Lawsuits & Litigation, New Jersey

Since the purchase of the now retired Showboat Casino in Atlantic City, Stockton University has doled out close to $8 million on the property in just short of a year according to records. After the due dilig...

DiamondJacks casino to be purchased by managing company

October 13, 2015

Casino News, Latest Casino and Gambling News, North America Casino News, Gaming Industry News, Casino closures, Mergers, Acquisitions & Partnerships, Bankruptcy, Mississippi

The Foundation Gaming Group will purchase Vicksburg’s DiamondJacks casino located on the Mississippi River, which the Gulfport-based company has operated since the casino emerged from bankruptcy in 2013, accord...

Baha Mar Resort negotiations begin again

October 9, 2015

Latest Casino and Gambling News, Bahamas, Casino project updates, Bankruptcy

The stalled project of the Baha Mar Resort may soon begin again as several groups met yesterday to begin negotiations to complete the construction of the facility. Meeting at the capital, the negotiations inclu...

Bankruptcy date a subject of contention for Caesars and creditors

October 4, 2015

Casino News, Latest Casino and Gambling News, World Casino News, Illinois, Bankruptcy, Fines, Lawsuits & Litigation, Nevada

A hold on $468 million hinges on the outcome of a court date on Monday when Caesars Entertainment Corporation’s casino business creditors ask a judge to consider a January 12th bankruptcy date valid rather than...

Contractor returns to Baha Mar Casino Resort project