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Senior secured lenders to Majestic Star Casinos, which operates Fitzgerald’s Casino in Black Hawk, has declared the company in default and accelerated $79.3 million in debt on Oct. 30, the company said in a regulatory filing.
Majestic originally missed payments in October 2008 on $300 million in senior secured notes and $200 million in senior notes.
The company said last year that it had hired Goldman Sachs to evaluate strategic alternatives, which include a reorganization or sale of some or all of its assets.
