🎰 Hollywood Casino May File for Bankruptcy

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Hollywood Casino did not make interest payments due Friday and the casino at the Louisiana Downs race track in Bossier City, which.


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Hollywood Casino May File for Bankruptcy. The company said the complex suffered from lower-than-expected gambling revenue, higher taxes and a competitive casino market facing a soft economy.

Hollywood Casino did not make interest payments due Friday and the company that owns the riverboat said it was attempting to negotiate a restructuring of the casino's debt.

Since then, Harrah's Entertainment Inc. However, Penn National Gaming Inc. The bondholders include about 25 insurance companies, mutual fund source and other investment agencies.

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At the time, the company said it planned to market the casino aggressively, but warned that a bankruptcy reorganization might be needed. If the casino went into bankruptcy reorganization, it would be allowed to continue operating while restructuring its finances. Penn National obtained the casino, one of five dockside gambling riverboats in the Shreveport-Bossier City market, earlier this year when it acquired Hollywood Casino Corp. Copyright by The Associated Press.