Majestic Star casino company misses debt payments

The company that owns two casinos along Indiana’s Lake Michigan shore and others in Mississippi and Colorado has been declared
in default on nearly $80 million in debt by its lenders.

Majestic Star Casino LLC disclosed the default notice
in a Securities and Exchange Commission filing. Majestic Star senior vice president Jon Bennett said the Las Vegas-based company
is "looking at all alternatives available."

The company owns two Majestic Star casinos and a hotel in
Gary, a casino-hotel in Tunica County, Miss., and a casino in Black Hawk, Colo.

The casino company and its subsidiaries
already were in default with bondholders after missing multiple interest payments in the past year. Majestic Star said in
August it anticipated skipping some debt payments and that it might file for bankruptcy protection.

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