The company’s debt service has declined from $22 million to $5.3 million annually. Mesquite Gaming also will have access to a $10 million line of credit from Nevada State Bank.īlack said the plan was consistent with the company’s effort to reduce its debt and interest payments. Under the terms of the plan, the company’s debt was reduced from $225 million to $62.5 million, and a $15 million loan from Wells Fargo Bank was paid off. ![]() Bankruptcy Court in Las Vegas, confirmed the restructuring plan four months later. ![]() The panel voted 5-0 to license the company.īlack Gaming filed for Chapter 11 bankruptcy protection in March 2010 and the U.S. “The economy put us in a situation that we could not recover from,” he said. ![]() He said no one had anticipated how the recession would devastate the gaming industry in Mesquite. The new company, Mesquite Gaming LLC, formed following the bankruptcy of Randy Black’s casino company, will operate the Casablanca, Virgin River and Oasis casinos in Mesquite, about 85 miles northeast of Las Vegas.īlack, chief operating officer of Mesquite Gaming, expressed confidence to the commission that the company would be successful moving forward. A newly organized company that will operate three Mesquite casinos gained final approval to proceed Thursday from the Nevada Gaming Commission.
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