The Majestic Star Casino, LLC announced that legislation that would have allowed the transfer of one of its two gaming licenses in Gary, Indiana to Steuben County, Indiana was defeated in the Senate Appropriations Committee of the Indiana legislature. As such, it is unlikely legislation enabling the transfer of a gaming license will be acted upon during the current legislative session.
As the Company previously announced, development of new and improved dockside gaming facilities at its two Gary, Indiana casinos are on hold indefinitely due to weakness in the capital markets, limitations on the Company's ability to incur debt and an inability to solidify development plans. Further, additional capital expenditures with respect to such properties will be limited to the Company's available cash flow.
The Company will continue to focus on improving the customer experience at its two Gary, Indiana casinos while operating as efficiently as possible.
