DiamondJacks Operator Files For Ch. 11, Mulling $125M Sale

Law360, New York (July 31, 2012, 11:38 PM EDT) -- Legends Gaming LLC, operator of the DiamondJacks Casinos, sank into Chapter 11 and proposed a $125 million asset sale on Tuesday after defaulting on certain credit agreements it had entered into after its previous bankruptcy filing in 2008.

In a Chapter 11 petition filed in Louisiana federal court, Frankfort, Ill.-based Legends Gaming listed between $100 million to $500 million in assets and liabilities and indicated that it is in talks with Global Gaming Solutions LLC, which is supported by the tribal gaming operator Chickasaw Nation, to...
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