DiamondJacks Casino owner tries different reorganization plan - KSLA News 12 Shreveport, Louisiana News Weather & Sports

DiamondJacks Casino owner tries different reorganization plan


Legends Gaming LLC, the parent company of DiamondJacks Casino, announced on Monday a new plan to help the cash-strapped casino recover from bankruptcy.

Legends on Monday filed an amended reorganization plan as it tries to emerge from federal bankruptcy protection.

The company says the plan would devote more than $200 million from debt service to re-investment of cash "for capital improvements at the properties."

"Both of our casinos will continue to operate as usual, and we will continue to provide our guests with the same great value and service they have always enjoyed at our properties," said Raymond Cook, President of Legends.

"The Plan will allow our
company to emerge from the constraints of its old debt burden and continue its commitments to the communities in which we operate as well as to our most valued asset, our team members."

Legends also says that it is entering into short-term consulting agreements with the Foundation Gaming Group at its Bossier City and Vicksburg properties. Any long-term agreement would be subject to regulatory approval.

Copyright 2013 KSLA. All rights reserved.

Powered by Frankly