Basis video gaming to purchase DiamondJacks Casino & resort in Vicksburg
Gulfport-based gambling management Foundation Gaming party announced on Monday so it would buy DiamondJacks Casino & resort in Vicksburg, Mississippi.
The casino initially unsealed gates in 1993 and was first managed underneath the Isle of Capri brand. The location was the initial with this kinds in Vicksburg. In 2006, Legends Gaming bought the betting residential property. Later on, it stated personal bankruptcy not only when, but double.
Foundation video gaming failed to expose exactly how much it could purchase the casino. The purchase bargain try subject to regulating acceptance and the Mississippi video gaming percentage is to vote on the purchase on Thursday.
Les McMackin, fundamental Operations & advertising policeman for Foundation video gaming, said that the agent would borrow cash through the casino’s current people, in order to be in a position to conclude the transaction. DiamondJacks’ current people happened to be lenders whenever Legends proclaimed the second bankruptcy. They made a decision to keep carefully the venue operational as opposed to closing it. Legends could merely recover a small portion of the $300-million debt as well as the casino is at risk of getting liquidated.
Mr. McMackin mentioned that the betting venue would manage functioning as regular. It currently hires 300 someone. Basis video gaming is deciding on a long-term policy for the ongoing future of DiamondJacks. (more…)