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Bankruptcy

Nevada Gaming

article Little progress made in resolving Tahoe’s Cal Neva bankruptcy issues (3/29/2017)
(Nevada) -- Nine months after the owners of the Cal Neva Lodge & Casino filed for bankruptcy, not much has changed to the famed resort once owned by Frank Sinatra...
1 Article on this Issue

Ohio Gaming

article Private companies keep Ohio racinos alive (3/22/2017)
(Ohio) -- Head of Gaming and Travel Investment Banking at KeyBanc Capital Markets in Cleveland Jay Masurekar said that Ohio casinos and racinos are still fully...
1 Article on this Issue

Fantasy Sports

article Fantasy Sports Bailout Almost Complete: Court Approves FantasyDraft Deal With Bankrupt Fantasy Aces (2/28/2017)
(California) -- Daily fantasy sports site FantasyDraft told Legal Sports Report that a bankruptcy court had approved its plan to acquire the player database of Fantasy...
article FantasyDraft To Pay Out Some Of $1.3 Million Owed To Players By Bankrupt Fantasy Aces (2/14/2017)
(USA) -- Daily fantasy sports site FantasyDraft announced that it would be paying out some of the money owed to the players of the now defunct Fantasy Aces after it...
article FantasyDraft saves the day, announces refund for Fantasy Aces players (2/13/2017)
(USA) -- FantasyDraft is getting involved with rival Fantasy Aces again—only this time, the daily fantasy sports operator is stepping in to reimburse Fantasy Aces...
article Daily fantasy sports site Fantasy Aces files for bankruptcy (2/2/2017)
(California) -- Amid ongoing turmoil for the once-booming daily fantasy sports industry, one of the industry’s largest operators outside of FanDuel and DraftKings...
article View: Fantasy Aces Executives Lost $1 Million Of Players’ Funds, And Need To Be Held Accountable (2/2/2017)
(USA) -- Stolen money. Lies and deception. And yet another black eye for the daily fantasy sports industry. Today, it became official. Fantasy Aces, a company that had...
article Why Fantasy Aces Wasn’t Caught, And How DraftKings, FanDuel And Others Segregate Player Funds (2/2/2017)
(USA) -- This week, we learned that daily fantasy sports operator Fantasy Aces filed for Chapter 7 bankruptcy. The main takeaway from that revelation? The site was not...
article Draft Ops, a daily fantasy sports partner of the Islanders and Barclays Center, files for bankruptcy (1/4/2017)
(New Jersey) -- DraftKings and FanDuel burst onto the scene seemingly out of nowhere in 2015, spending a collective hundreds of millions of dollars in an attempt to gain...
7 Total Articles on this Issue

Caesars

article Agreement on Caesars merger clears way for emergence from Chapter 11 (2/21/2017)
(Chicago) -- The terms of a merger of two subsidiaries of Caesars Entertainment have been amended, clearing a path for the company’s emergence from Chapter 11...
article Bankruptcy After Two-Year Legal Slog (1/18/2017)
(Illinois) -- Two years and two days after putting its largest unit into bankruptcy, Caesars Entertainment Corp. won court approval of a restructuring plan that cancels...
article US judge OKs plan for Caesars' unit to exit $18B bankruptcy (1/18/2017)
(Illinois) -- A federal judge gave the thumbs-up Tuesday to a plan to reorganize a subsidiary of casino giant Caesars Entertainment Corp., clearing the way for the...
article Caesars unit clears way to exit bankruptcy protection: court hearing (1/16/2017)
(Chicago) -- Caesars Entertainment Corp's main operating unit has cleared the way for the casino operator to exit bankruptcy protection with an agreement that ends...
article Caesars Reaches Deal on Restructuring Dispute With Lenders (12/26/2016)
(Chicago) -- Lenders to casino giant Caesars Entertainment Corp.'s bankrupt operating unit have reached a deal that is expected to preserve their support for the...
article Caesar’s Operating Arm Resolves Lender Disputes Over Bankruptcy Exit (12/26/2016)
(Chicago) -- Caesars Entertainment Operating Company – the operating arm of Caesar’s Entertainment Corp (CEC)., finally resolved their lender disputes Friday...
article Caesars Reorganization Back on Track After Lenders Reach Accord (12/24/2016)
(Illinois) -- Creditors of Caesars Entertainment Operating Co. resolved a standoff that had threatened to scuttle a plan to bring the casino giant out of bankruptcy.
article The 2016 Caesars Bankruptcy Proceedings That Seemingly Would Never End (12/24/2016)
(Illinois) -- The bankruptcy of Caesars main operating unit, CEOC, was already a year old by the beginning of 2016 and apparently going nowhere fast.
article Caesars unit resolves lender dispute, eyes bankruptcy exit (12/23/2016)
(Chicago) -- Caesars Entertainment Corp's bankrupt operating unit resolved a dispute with its lenders on Friday, paving the way for a consensual plan to push the...
article Caesars unit’s bank lenders threaten to end bankruptcy deal (12/6/2016)
(Chicago) -- The bank lenders of Caesars Entertainment Corp.’s operating unit said they might walk away from a plan to bring the casino unit out of its $18 billion...
article US bankruptcy watchdog objects Caesars plan (11/25/2016)
(Chicago) -- The U.S. government's bankruptcy watchdog objected to a Caesars Entertainment Corp subsidiary's proposal to exit Chapter 11, threatening to derail a...
article Caesars bankruptcy heads to showdown with US watchdog (11/22/2016)
(Chicago) -- The U.S. government’s bankruptcy watchdog has objected to a Caesars Entertainment Corp. subsidiary’s proposal to exit Chapter 11, threatening to...
article Caesars unit raising $3.8B cash to exit bankruptcy (11/4/2016)
(Illinois) -- Caesars Entertainment Corp.’s main casino operating unit has begun a process to raise up to $3.8 billion of cash needed to exit a contentious two-...
article Last holdout bondholder in Caesars’ unit bankruptcy agrees to deal (10/26/2016)
(Chicago) -- Hedge fund Trilogy Capital Management, the last holdout bondholder of Caesars Entertainment Corp.’s bankrupt operating unit, has agreed to support the...
article U.S. judge halts remaining litigation against Caesars (10/5/2016)
(Chicago) -- A U.S. judge on Wednesday halted a lawsuit against Caesars Entertainment Corp., saying it could derail last week’s $5 billion agreement that was aimed...
article Caesars, Creditors Have a Deal (10/2/2016)
(Las Vegas) -- Caesars Entertainment has reached an accord with the major creditors of its largest operating subsidiary that would give them a controlling stake in the...
article Caesars creditors said to tussle over control of gambling empire (9/30/2016)
(Chicago) -- Getting Apollo Global Management and TPG Capital to give up control of gambling giant Caesars Entertainment was hard enough. Now comes the challenge of...
article Caesars reaches deal with major creditors, could end court fights (9/27/2016)
(Mississippi) -- Caesars Entertainment Corp. and representatives of its largest creditor groups struck a deal to fund a reorganization of the casino giant's bankrupt...
article Caesars Said to Close In on Deal to End Unit’s Bankruptcy (9/23/2016)
(Chicago) -- Caesars Entertainment Corp. is getting closer to a deal to finance the reorganization of its bankrupt operating unit and end two years of rancorous court...
article Caesars Said to Near Deal With Creditor Holdouts; New Rift Seen (9/22/2016)
(Chicago) -- Caesars Entertainment Corp. and bondholders it fought for almost two years have agreed on the framework of a deal to get its operating unit out of...
article Caesars offers another $1.6B to creditors of bankrupt unit (9/21/2016)
(Chicago) -- Caesars Entertainment Corp. said on Wednesday it proposed along with its private equity backers a settlement offer with an added $1.6 billion for creditors...
article Caesars offers creditors another $1.6b, would spell end of hedge fund ownership (9/21/2016)
(Chicago) -- Casino operator Caesars Entertainment has improved its offer to junior creditors to over $5b, but the offer is only good until Friday. On Wednesday, Caesars...
article Caesars directors must 'pony up' details of wealth: judge (9/14/2016)
(Chicago) -- Billionaire investors Marc Rowan and David Bonderman are among Caesars Entertainment Corp (CZR.O) directors who must disclose details of their wealth to...
article Caesars mediator resigns in casino unit’s bankruptcy (9/11/2016)
(Chicago) -- The mediator trying to resolve the $18 billion bankruptcy of Caesars Entertainment Operating Co. Inc. abruptly stepped down on Friday, according to a court...
article Caesars Bankruptcy Mediator Quits over “Atypical Views” on Mediation Process (9/10/2016)
(Chicago) -- Another surprising turn of events will add another tangle to the already complex $18-billion bankruptcy case, involving casino operator Caesars...
article Caesars bankruptcy mediator resigns (9/10/2016)
(Chicago) -- Casino operator Caesars Entertainment’s interminable bankruptcy proceedings got even more complicated after word broke that the court-appointed...
26 Total Articles on this Issue

New York Gaming

article Suffolk OTB counts on a casino in Islandia to counter bankruptcy (2/5/2017)
(New York) -- Suffolk County OTB executives say Long Island’s first video lottery casino is the agency’s last-ditch effort to emerge from bankruptcy and save...
1 Article on this Issue

Indiana Gaming

article Evidence linking casino to crime, bankruptcy lacking (1/21/2017)
(Indiana) -- As casinos have sprouted up around the country, industry critics have raised questions about increased crime, gambling addiction and personal bankruptcy,...
1 Article on this Issue

Baha Mar

article Baha Mar Owner Forms ‘New Entity’ To Operate Casino (12/14/2016)
(Bahamas) -- Baha Mar’s new owner yesterday said it is forming its own company to operate the project’s casino, and does not seen gaming junkets as “a...
1 Article on this Issue

Maryland Gaming

article Small subcontractor working on MGM National Harbor seeks bankruptcy protection (11/7/2016)
(Maryland) -- An Upper Marlboro-based contractor that is part of the team building the $1.4 billion MGM National Harbor has filed for Chapter 11 bankruptcy protection...
1 Article on this Issue

Trump Taj Mahal

article What’s Next For The Taj Mahal Casino? NJ Bill Could Limit Future (10/16/2016)
(Atlantic City) -- The Trump Taj Mahal in Atlantic City is closed, but some suggest maybe not forever. In fact, a bill up for a vote next week in the New Jersey State...
article Carl Icahn Files Closing Paperwork for Trump Taj Mahal (9/13/2016)
(Atlantic City) -- Carl Icahn wasn’t joking about closing the Trump Taj Mahal casino in Atlantic City. Icahn will be chalking up the “investment” as a...
article Owner files petition to close Taj Mahal (9/11/2016)
(Atlantic City) -- Billionaire Carl Icahn’s management team is asking state gambling regulators for permission to shut down the Trump Taj Mahal casino next month.
article Icahn files formal request to close Atlantic City's Trump Taj Mahal casino (9/10/2016)
(Atlantic City) -- Atlantic City’s Trump Taj Mahal is officially living on borrowed time after owner Carl Icahn filed papers seeking regulatory permission to close...
4 Total Articles on this Issue

Donald Trump

article Donald Trump's Atlantic City finances tell story of business losses (10/5/2016)
(Atlantic City) -- As the Republican presidential nominee faces mounting scrutiny over his income taxes and his refusal to release them, the public has no definitive...
article Here Are Three Of Donald Trump’s Full Casino Bankruptcy Filings (10/5/2016)
(Atlantic City) -- On Saturday, the New York Times published portions of Donald Trump’s tax returns showing that he declared a $916 million loss in 1995. Declaring...
article Donald Trump’s Business Decisions in ’80s Nearly Led Him to Ruin (10/3/2016)
(New York) -- Abraham Wallach thought he had scored a major career break when Donald J. Trump hired him in 1990 for a senior executive role. Based on Mr. Trump’s...
article Bankruptcies shaped Trump political style: Column (9/28/2016)
(USA) -- Restructuring a failing business requires puffery, threats, gambles and head fakes. Sound familiar? Donald Trump’s campaign for president often seems...
4 Total Articles on this Issue

Atlantic City Gaming

article Atlantic City's fiscal gamble could end in bankruptcy (10/3/2016)
(Atlantic City) -- After years of rising costs and declining revenues, Atlantic City officials are embarking on an ambitious and risky gambit that could save their city...
article How Will Atlantic City Cope After Trump's Taj Mahal Closes? (9/24/2016)
(Atlantic City) -- 2014 was a devastating year for Atlantic City, which had to deal with the fallout of an unprecedented four casino hotels closing and a loss of more...
2 Total Articles on this Issue

Card Clubs

article Downtown Fresno’s Club One card room comes out of bankruptcy (9/24/2016)
(California) -- Downtown Fresno’s Club One is out of Chapter 11 bankruptcy protection after reaching agreement with two former owners to pay them a portion of what...
1 Article on this Issue

Other News

article Attorney: Atlanta business owner gambled away millions, bankrupting her company (4/4/2017)
(Georgia) -- The former owner of Think Retail Solutions LLC allegedly transferred or withdrew $5.7 million from her company to pay for gambling and gambling-related...
article Why Tribes Should Be Careful With Bankruptcy Practices (sub req.) (3/24/2017)
(Delaware) -- James T. Meggesto Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the District of Delaware issued a decision on Feb. 28, 2017, that has...
article Courts Continue Trend of Recognizing Tribal Immunity in Bankruptcy Proceedings (3/23/2017)
(Delaware) -- HIGHLIGHTS: Section 106(a) of the U.S. Bankruptcy Code provides for abrogation of the sovereign immunity of "governmental units" for purposes of...
article BLOG: Courts Continue Trend of Recognizing Tribal Immunity in Bankruptcy Proceedings (3/22/2017)
(Washington D.C.) -- Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the District of Delaware (Court) issued a decision on Feb. 28, 2017, that has...
article Tribal Sovereign Immunity Defeats Bankruptcy Jurisdiction (3/16/2017)
(USA) -- Jurisdictional issues under the Bankruptcy Code can often ­create a procedural morass for even the most seasoned practitioner. When tribal ­sovereign...
article Company behind Klondike Sunset Casino files for bankruptcy (11/15/2016)
(Nevada) -- Creditors of Nevada Gaming Partners LLC are scheduled to meet for the first time Thursday to discuss the bankruptcy filing of the company that just reopened...
article The trouble with Trump: A digest of what we know (10/16/2016)
(Wisconsin) -- Ordinary Americans, who began the 2016 campaign with a passing impression of Donald Trump as the outspoken mogul of “Apprentice” fame, now...
article Caesars creditors said to tussle over control of gambling empire (10/2/2016)
(Las Vegas) -- Getting Apollo Global Management and TPG Capital to give up control of gambling giant Caesars Entertainment was hard enough. Now comes the challenge of...
article Diocese of Gallup sells chancery building amid bankruptcy (9/20/2016)
(New Mexico) -- The Diocese of Gallup has announced it has sold an iconic western New Mexico building amid a bankruptcy case linked to clergy sexual abuse. The Gallup...
article Trump Taj Mahal drama leaves Steel Pier, other local businesses hurting (8/21/2016)
(Atlantic City) -- During its more than 110 years of operations, Steel Pier has faced its share of challenges, from a fire in the 1920s to the Ash Wednesday Storm of...
article Prime Minister Perry Christie faces pressure as he fails to announce new buyer for failed Baha Mar Casino Resort (8/21/2016)
(Bahamas) -- The $3.5 billion Baha Mar Casino resort in the Bahamas was a very important project for the country as it was expected to create thousands of jobs, generate...
article Ex-NCC bankruptcy lawyer questions foreclosure action (7/18/2016)
(Iowa) -- The former bankruptcy attorney for Waterloo’s National Cattle Congress says the grounds under which the Meskwaki tribe of Tama is trying to foreclose on...
article Trump Bankers Question His Portrayal of Financial Comeback (7/17/2016)
(USA) -- Donald Trump, who often says he only likes winners, tells one grand tale of loss: In 1990, he nearly went bankrupt and was forced to ask dozens of banks to whom...
article Ex-NCC bankruptcy lawyer questions foreclosure action (7/17/2016)
(Iowa) -- The former bankruptcy attorney for Waterloo’s National Cattle Congress says the grounds under which the Meskwaki tribe of Tama is trying to foreclose on...
article Caesars Sweetens Merger Terms (7/17/2016)
(Las Vegas) -- Shareholders of Caesars Acquisition Co., which owns such assets like Planet Hollywood in Las Vegas (l.), will take a smaller stake in a merger with...
article Court: Sac, Fox Tribe can foreclose on National Cattle Congress properties (7/15/2016)
(Iowa) -- A district court ruling has put the future of the National Cattle Congress in jeopardy. Judge George Stigler said the Sac and Fox Tribe of the Mississippi in...
article National Cattle Congress fighting foreclosure ruling (7/15/2016)
(Iowa) -- The National Cattle Congress plans to appeal a judge's ruling that says the Sac and Fox Tribe of the Mississippi in Iowa can foreclose on Cattle Congress...
article Moulin Rouge site receiver files motion to sell property for $8M (6/3/2016)
(Las Vegas) -- After being in receivership for the past three years, the 15.5 acres that make up the Moulin Rouge site may have a new owner. The receiver of the property...
article Pictured: Snooker legend Willie Thorne is caught playing ‘crack cocaine’ casino machines as he is still trying to clear £1million in gambling debts (5/1/2016)
(UK) -- 'Bankrupt' snooker legend Willie Thorne has been spotted on gambling machines known as the 'crack cocaine' of casinos as he tries to clear debts...
article Coal Giant Peabody Energy Declares Bankruptcy (4/14/2016)
(USA) -- Peabody Energy, the largest private sector coal company in the nation, declared bankruptcy Wednesday morning. NPR's Ari Shapiro talks with Taylor Kuykendall...

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