Basis video gaming purchasing DiamondJacks Casino & resorts in Vicksburg

Basis video gaming purchasing DiamondJacks Casino & resorts in Vicksburg

Gulfport-based gaming manager Foundation Gaming party revealed on that it would buy DiamondJacks Casino & Hotel in Vicksburg, Mississippi monday.

The casino first established doors in 1993 and was operated within the Isle of Capri brand. The location was the most important with this type or kind in Vicksburg. In 2006, Legends video gaming purchased the gaming property. Afterwards, it declared bankruptcy proceeding not merely as soon as, but double.

Foundation games decided not to display how much cash it could pay for the casino. The exchange package is actually subject to approval that is regulatory the Mississippi Gaming percentage would be to vote in the purchase on Thursday.

Les McMackin, head businesses & advertising and marketing policeman for basis games, mentioned that the agent would borrow funds through the casino’s latest holders, to become in a position to completed the transaction. DiamondJacks’ current owners are lenders whenever Legends stated the bankruptcy that is second. They made a decision to keep the site operational in place of shutting it. Legends could only recoup a smaller portion of the $300-million debt and also the casino is at likelihood of becoming liquidated.

Mr. McMackin mentioned that the gaming site would continue running as typical. It currently hires 300 men. Basis video gaming normally looking at a long-lasting policy for the future of DiamondJacks. Mr.

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