Fitzgerald Casino Tunica Ms Address

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  1. Fitzgerald Casino Tunica Ms Address
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Fitzgerald Gaming
Lincoln Management Corporation
Public
IndustryGaming, Hospitality, Tourism
FateChapter 11 bankruptcy
Founded1981; 39 years ago
DefunctNovember 2007
HeadquartersReno, Nevada, U.S.
ProductsCasinos, Hotels, Entertainment, Resorts

Tunica hosts mighty big entertainment. Here, you’ll find concerts, comedy shows, MMA fights, boxing matches, festivals and more. Past performers include Dwight Yoakam, Gladys Knight, The Band Perry, The Isley Brothers, Sinbad, Bill Engvall. You’ll find some of the best events and concerts in Mississippi right here in Tunica. Jan 05, 2018  Casino resort complex features slots, craps, roulette and mini-baccarat, plus a wide choice of dining and entertainment venues. Contact 13615 Old Highway 61 N MS 38664, Tunica, MS.

Fitzgerald

Fitzgeralds Gaming was a gaming and hotel company based in Reno, Nevada, that operated four casinos under the Fitzgeralds brand. It filed for Chapter 11 bankruptcy in December 2000, and subsequently sold all its properties.

  • 1History

History[edit]

Lincoln Management[edit]

Lincoln Management Inc. was founded in 1984 by Philip Griffith and several other former casino executives of the Summa Corporation, who had worked at Harolds Club in Reno and the Sands Casino in Las Vegas.[1] It was formed to assume the management of the nearby Fitzgeralds Hotel-Casino under a contract with the casino's owner, Meta Fitzgerald.[1] Fitzgerald had operated the property since the 1981 death of her husband, the casino's founder, Lincoln Fitzgerald.[2] The new company's management agreement took effect in April 1985.[3]

In December 1986, Lincoln Management exercised an option to buy Fitzgeralds from Meta Fitzgerald for $26 million.[4] On the same day, the company also assumed management of the Nevada Club, a nearby casino also owned by Fitzgerald; the property was closed briefly before reopening under the company's management in February 1987.[5][6][7]

Also in December 1986, the company expanded into Southern Nevada, taking over management of the Sundance casino in Downtown Las Vegas for its owner, Moe Dalitz.[8] The following year, Lincoln's principals partnered with members of Oppenheimer & Co. to purchase the property from Dalitz.[9] The Sundance was rebranded under the Fitzgeralds name in March 1988.[10]

In 1988, Lincoln Management bought Harolds Club from the Summa Corporation,[11][12] and also acquired the Nevada Club from Fitzgerald.[13]

In April 1993, the company was selected by the Oneida Indian Nation to assist in developing the Turning Stone Casino and to manage the casino.[14][15] Before opening, however, the tribe opted instead to self-manage the casino.[15]

In May 1993, the company received preliminary approval for a casino to be built near Tunica, Mississippi.[16] Fitzgeralds Tunica opened in June 1994, at a cost of $46 million.[17][18] A hotel was added to the casino in 1996 at a cost of $34 million.[18]

In 1993, the company made a bid for the last available gaming license in the Kansas City area, proposing a $145 million casino in Sugar Creek, Missouri.[19] The license was awarded to Station Casinos instead, to build what is now the Ameristar Casino Kansas City. Station was later investigated for improper contact with the president of the gaming commission, and Fitzgeralds sued and received a $38 million settlement in 2004.[20]

Fitzgeralds Gaming[edit]

In 1994, Lincoln Management was reorganized as Fitzgeralds Gaming Corp. in preparation for a potential initial public offering.[21][22] The IPO was canceled, however, in 1995, because of weak stock market demand for mid-size casino companies.[23]

Fitzgerald Casino Tunica Ms Address

In May 1995, the company opened Fitzgeralds Black Hawk in Black Hawk, Colorado. The company had assumed management of the casino and licensed the Fitzgeralds name to what had previously been the 101 Main Street Casino.[24][25] Fitzgeralds Gaming bought a 22 percent interest in the casino in February 1996 for $2.5 million, and then bought the remaining 78 percent in August 1997 for $27 million.[24][26]

Another casino under the company's management, the Cliff Castle Casino in Camp Verde, Arizona, owned by the Yavapai-Apache Nation, opened on the same day as Fitzgeralds Black Hawk.[27] Fitzgeralds operated the casino until 1998, when the tribe bought out the management agreement for $8 million.[28]

Meanwhile, Fitzgeralds disposed of two of its smaller properties. The company closed Harolds Club in March 1995 and sold it two months later for $8.9 million.[29][30] The Nevada Club was closed in December 1997, and six months later was sold to the neighboring Harrah's Reno for $3.8 million.[31][32]

In 1999, the company found itself in financial difficulty because of slower than expected growth and stiff competition.[33] It defaulted on payments to bondholders in July 1999, and began negotiating a debt restructuring.[34] A deal was ultimately reached for the company to sell three of its casinos (Las Vegas, Tunica, and Black Hawk) to Indiana-based Majestic Star Casino for $149 million, and for bondholders to forgive much of the company's remaining $205 million in public debt.[35] The plan was filed in December 2000 as a prepackaged bankruptcy case.[35] The sale of the three properties was completed in December 2001.[36]

The agreement with bondholders also called for Fitzgeralds Reno to be sold.[37] No buyer was readily found, because of concerns about competition from Northern California Indian casinos and disruption from a railroad construction project next to the property.[38] In 2003, the casino was taken off the market, and ownership of Fitzgeralds Gaming was transferred to its creditors, a group of institutional lenders.[39]

Fitzgeralds Reno was finally sold in November 2007 to L3 Development, developer of the neighboring Montage Reno condominiums, leaving Fitzgeralds Gaming with no remaining operations.[40][41]

List of properties[edit]

  • Fitzgeralds Black Hawk — Black Hawk, Colorado (sold in 2001)
  • Fitzgeralds Las Vegas — Las Vegas, Nevada (sold in 2001)
  • Fitzgeralds Reno — Reno, Nevada (sold in 2007)
  • Fitzgeralds Casino & Hotel Tunica — Tunica, Mississippi (sold in 2001)
  • Harolds Club — Reno, Nevada (closed and sold in 1995)
  • Nevada Club — Reno, Nevada (closed in 1998; sold in 1999)

References[edit]

Fitzgerald Casino Tunica Ms Address

  1. ^ abVoyles, Susan (October 30, 1984). 'Summa execs resign to run Fitzgerald's'. Reno Gazette-Journal – via Newspapers.com. (Part 2 of article)
  2. ^Kling, Dwayne (2010). The Rise Of The Biggest Little City: An Encyclopedic History Of Reno Gaming. University of Nevada Press. p. 51. ISBN0-87417-829-0.
  3. ^Voyles, Susan (March 22, 1985). 'Fitzgeralds partners given licenses'. Reno Gazette-Journal – via Newspapers.com.
  4. ^Anderson, Tim (March 16, 1987). 'Betting on a turnaround'. Reno Gazette-Journal – via Newspapers.com. (Part 2 of article)
  5. ^Miller, Ken (January 1, 1987). 'Historic Nevada Club closes its doors'. Reno Gazette-Journal – via Newspapers.com.
  6. ^Miller, Ken (January 31, 1987). 'Nevada club reopens Tuesday with '40s look'. Reno Gazette-Journal – via Newspapers.com.
  7. ^Jerkovich, Roger (February 4, 1987). 'Awaiting opening'. Reno Gazette-Journal – via Newspapers.com.
  8. ^Morrison, Jane Ann (November 26, 1986). 'Fitzgerald's operators to run Sundance in Vegas'. Reno Gazette-Journal – via Newspapers.com.
  9. ^'After 3 years, gaming panel OKs sale of Sundance'. Reno Gazette-Journal. AP. October 16, 1987 – via Newspapers.com.
  10. ^'Fitzgeralds to hold fetes'. Reno Gazette-Journal. March 17, 1988 – via Newspapers.com.
  11. ^Morrison, Jane Ann (May 20, 1988). 'Gaming Commission rules out slots in art galleries'. Reno Gazette-Journal – via Newspapers.com.
  12. ^Voyles, Susan (August 7, 1988). 'Casino owners miffed, want downtown cleaned up'. Reno Gazette-Journal – via Newspapers.com.
  13. ^Stearns, John (February 7, 1996). '$6 million price tag on Nevada Club'. Reno Gazette-Journal – via Newspapers.com. (Part 2 of article)
  14. ^Gonzalez, Daniel (June 18, 1993). 'Oneidas picked a winner to run casino, experts say'. The Post-Standard. Syracuse, NY – via NewsBank.
  15. ^ abForm 10-K405: Annual Report (Report). March 31, 1997. p. 11 – via EDGAR.
  16. ^Campbell, Sarah C. (May 25, 1993). 'Nine Tunica casino sites win OK'. The Commercial Appeal. Memphis, TN – via NewsBank.
  17. ^Lollar, Michael (July 17, 1994). 'Gaming choices are just short drive from Memphis'. The Commercial Appeal. Memphis, TN – via NewsBank.
  18. ^ abForm 10-K405: Annual Report (Report). Fitzgeralds Gaming. March 31, 1998. p. 5 – via EDGAR.
  19. ^'Suit: Station 'rigged game' to get license'. Lawrence Journal-World. 22 December 2000. Retrieved 12 October 2011.
  20. ^'Station Casinos settles for $38 million in Missouri'. Las Vegas Review-Journal. 12 February 2004. Retrieved 12 October 2011.
  21. ^Robbins, James (December 10, 1994). 'Fitzgeralds considering going public'. Reno Gazette-Journal – via Newspapers.com.
  22. ^Robbins, James (August 3, 1995). 'Fitzgeralds mulls public offering'. Reno Gazette-Journal – via Newspapers.com. (Part 2 of article)
  23. ^Robbins, James (October 24, 1995). 'Fitzgeralds cancels public offering'. Reno Gazette-Journal – via Newspapers.com.
  24. ^ abStearns, John (March 2, 1996). 'Fitzgeralds closer to ambition in Colorado'. Reno Gazette-Journal – via Newspapers.com.
  25. ^Form 10-K405: Annual Report (Report). Fitzgeralds Gaming. March 31, 1997. p. 9 – via EDGAR.
  26. ^Form 10-K405: Annual Report (Report). Fitzgeralds Gaming. March 31, 1998. p. F-16 – via EDGAR.
  27. ^Form 10-K405: Annual Report (Report). Fitzgeralds Gaming. March 31, 1997. p. 2 – via EDGAR.
  28. ^Form 10-K: Annual Report (Report). Fitzgeralds Gaming. March 30, 1999. p. 9 – via EDGAR.
  29. ^Cox, Don (April 1, 1995). 'Harolds Club closes'. Reno Gazette-Journal – via Newspapers.com.
  30. ^Form 10-K405: Annual Report (Report). Fitzgeralds Gaming. March 31, 1997. p. F-30 – via EDGAR.
  31. ^Cox, Don (December 30, 1997). 'Nevada Club shut down ahead of schedule'. Reno Gazette-Journal – via Newspapers.com.
  32. ^Stearns, John (June 19, 1999). 'Harrah's comes through'. Reno Gazette-Journal – via Newspapers.com.
  33. ^Wilen, John (May 20, 1999). 'Fitzgeralds pumps funds into casinos, restructuring debt'. Las Vegas Sun. Retrieved 2018-06-18.
  34. ^Strow, David (July 26, 1999). 'Bankruptcy likely for LV casino company'. Las Vegas Sun. Retrieved 2018-06-18.
  35. ^ ab'Fitzgeralds in bankruptcy, three casinos being sold'. Las Vegas Sun. December 6, 2000. Retrieved 2018-06-18.
  36. ^Flaum, David (December 7, 2001). 'New owners at Fitzgeralds; Indiana firm takes charge'. The Commercial Appeal. Memphis – via NewsBank.
  37. ^Stearns, John (May 10, 2001). 'Fitzgeralds earnings down in 1st quarter'. Reno Gazette-Journal – via Newspapers.com.
  38. ^Walsh, Thomas J. (March 15, 2003). 'Fitzgeralds proving to be a tough sell'. Reno Gazette-Journal – via Newspapers.com.
  39. ^Walsh, Thomas J. (August 26, 2003). 'Fitzgeralds gets new owners, management'. Reno Gazette-Journal – via Newspapers.com. (Part 2 of article)
  40. ^'L3 Development completes purchase of Fitzgeralds Casino/Hotel' (Press release). L3 Development. November 1, 2007 – via BusinessWire.
  41. ^Riley, Brendan (October 19, 2007). 'Cashell's son to run Fitzgeralds'. Reno Gazette-Journal. AP – via Newspapers.com.

Further reading[edit]

  • Sunzeri, Jeff. 'The Nevada Club.' Gold Star. 2016 ISBN978-0996217712
Retrieved from 'https://en.wikipedia.org/w/index.php?title=Fitzgeralds_Gaming&oldid=906760293'
(Redirected from Fitz Tunica)
The Majestic Star Casino, LLC
Private
IndustryGambling
Founded1993
Gary, Indiana
HeadquartersLas Vegas, Nevada
Key people
Don H. Barden, Founder
OwnerWayzata Investment Partners and others

The Majestic Star Casino, LLC is a gaming holding company founded in Gary, Indiana by Don H. Barden and currently based in Las Vegas, Nevada.

Fitzgerald Casino Tunica Ms Address
  • 2Properties

History[edit]

The company was formed on December 8, 1993.

It opened the Majestic Star Casino in Gary, Indiana on June 7, 1996.

In December 2001, Majestic Star made its first expansion beyond Gary, acquiring three Fitzgeralds casinos from bankrupt Fitzgeralds Gaming for $149 million, in Las Vegas, Nevada, Black Hawk, Colorado, and Tunica, Mississippi.[1] Chief operating officer Michael Kelly, a former Fitzgeralds executive, engineered the deal.[2]

In April 2005, Majestic Star was selected to operate the casino at the French Lick Resort in French Lick, Indiana, being developed by a partnership of Lauth Property Group and the Cook Group.[3] However, the Cook-Lauth partnership eventually decided to form its own casino management team, and Majestic's involvement ended amiably in September of that year.[4]

In December 2005, Majestic Star acquired the neighboring Trump Casino in Gary from Trump Entertainment Resorts for $253 million, and renamed it as the Majestic Star II.[5][6]

After Barden led an effort to legalize gambling in Pennsylvania, Majestic Star was awarded the only gaming license for Pittsburgh, beating out competing bids from Harrah's and Isle of Capri.[7] Construction began in December 2007 on the $450 million riverfront Majestic Star Casino, which was projected to double the company's yearly revenues to over $1 billion.[7] However, after defaulting on a $200 million bridge loan and failing to pay contractors, Majestic had to hand control in August 2008 to a group led by JMB Realty chairman Neil Bluhm, lead investor in the SugarHouse Casino in Philadelphia, who bought 75% of the project, and renamed it the Rivers Casino.[8][9] Barden kept his remaining stake in the project outside of the Majestic Star umbrella.[10]

In November 2009, Majestic Star filed for bankruptcy, listing $406 million in assets against $750 million in liabilities.[10] The company cited the recession, increased competition from nearby properties, and a new smoking ban as reasons.[11] In December 2010, Majestic sued Barden, claiming that he changed the company's tax status without notice, costing over $2 million in additional tax liabilities.[12] The company's reorganization plan, filed the following month, would end Barden's ownership interest, while leaving other executives in place.[13] The company left bankruptcy in 2011 under the majority ownership of Wayzata Investment Partners.[14]

In October 2011, several months after Barden's death, his estate sold Fitzgeralds Las Vegas to brothers Derek and Greg Stevens, majority owners of the Golden Gate casino.[15]

In May 2012, Majestic Star agreed to sell Fitzgeralds Black Hawk for $28 million to Saratoga Harness Racing, owner of Saratoga Casino and Raceway in New York.[16] The sale closed in January 2013.[17]

Majestic Star sold Fitzgeralds Tunica to Foundation Gaming in August 2018.[18][19]

In November 2018, the company agreed to be acquired by Spectacle Entertainment, a new firm owned primarily by two Indiana-based investors.[20] The buyers said they would lobby for permission to move the Majestic Star Casino inland within Gary, and to move the Majestic Star II's casino license to another city in Indiana.[21]

Properties[edit]

  • Majestic Star Casino − Gary, Indiana
  • Majestic Star II − Gary, Indiana

Former[edit]

  • Fitzgeralds Black Hawk — Black Hawk, Colorado
  • Fitzgeralds Las Vegas — Las Vegas, Nevada
  • Fitzgeralds Tunica − Tunica Resorts, Mississippi

References[edit]

  1. ^'Detroiter Builds Out-Of-State Casino Empire'. Casino City Times. 21 April 2002. Retrieved 9 October 2011.
  2. ^'Fitzgeralds in bankruptcy, three casinos being sold'. Las Vegas Sun. 6 December 2000. Retrieved 9 October 2011.
  3. ^'Cook-Lauth Name Majestic Star Casino For Orange County Project'. Inside Indiana Business. 21 April 2005. Retrieved 9 October 2011.
  4. ^'Majestic Star won't operate Orange County casino'. Las Vegas Sun. 26 September 2005. Retrieved 9 October 2011.
  5. ^Erler, Susan (November 5, 2005). 'Majestic Star buying Trump casino'. The Times of Northwest Indiana. Retrieved 2018-12-08.
  6. ^'Trump Entertainment Resorts completes sale of Trump Indiana riverboat to Majestic Star' (Press release). Trump Entertainment Resorts. December 21, 2005. Retrieved 2018-12-08.
  7. ^ abHamill, Sean (12 December 2007). 'For Casino Owner, Winning a License Was Not a Matter of Luck'. New York Times. Retrieved 9 October 2011.
  8. ^'Pittsburgh's casino to get new name'. Pittsburgh Business Times. 18 November 2008. Retrieved 9 October 2011.
  9. ^'Pittsburgh Casino Rescue Plan Would Reduce Don Barden's Role'. WTAE.com. 10 July 2008. Retrieved 9 October 2011.
  10. ^ ab'Majestic Star Casino files for bankruptcy'. Pittsburgh Post-Gazette. 24 November 2009. Retrieved 9 October 2011.
  11. ^'Competition factor in Majestic Star bankruptcy'. Casino City Times. 21 September 2010. Retrieved 9 October 2011.
  12. ^Rochelle, Bill (4 January 2011). 'Majestic Star, Milwaukee Archdiocese, Broadstripe: Bankruptcy'. Bloomberg. Retrieved 9 October 2011.
  13. ^Tweh, Bowdeya (21 September 2010). 'Majestic Star files bankruptcy plan'. Times of Northwest Indiana. Retrieved 9 October 2011.
  14. ^Majestic Star owner out of bankruptcy
  15. ^McGarry, Caitlin (October 29, 2011). 'Fitzgerald's new owners plan makeover, new name'. Las Vegas Review-Journal. Retrieved 2012-03-13.
  16. ^Pankratz, Howard (15 May 2012). 'Fitzgeralds Black Hawk sold for $28 million to N.Y. company'. Denver Post. Retrieved 3 July 2012.
  17. ^Paul Post (January 30, 2013). 'Saratoga Harness buys Colorado casino'. The Saratogian. Retrieved 2013-01-31.
  18. ^Bolton, Jason (September 4, 2018). 'New dealer: Fitz Tunica acquired by Mississippi company'. Memphis Business Journal. Retrieved 2018-12-08.
  19. ^'Spectacle Entertainment to acquire Majestic Holdco' (Press release). Spectacle Entertainment. November 28, 2018. Retrieved 2018-12-08 – via Associated Press.
  20. ^Steele, Andrew (November 28, 2018). 'Indy-based company agrees to buy Majestic Star'. The Times of Northwest Indiana. Retrieved 2018-12-08.
  21. ^Hirsch, Stuart (December 4, 2018). 'Former Centaur chairman makes bid for Gary casinos'. The Herald Bulletin. Anderson, IN. Retrieved 2018-12-08.

Fitzgerald Casino Tunica Hotel

Sources[edit]

External links[edit]

Fitzgerald Casino Tunica Ms Address Phone Number

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