Black Gaming reorganization plan approved by most voting creditors

By Caroline Salls

Pittsburgh, June 25 - Black Gaming, LLC's plan of reorganization was accepted by a majority of voting creditors, according to a Friday filing with the U.S. Bankruptcy Court for the District of Nevada.

Specifically, all 10 holders of $23.61 million in senior subordinated note claims and all 21 holders of $78.23 million in intercompany claims voted to accept the plan.

In addition, 48 holders, or 97.96% in number, of $90.84 million, or 97.85% in amount, of senior secured note facility secured and unsecured claims voted to accept the plan, while one holder, or 2.04% in number, of $2 million of these claims, or 2.15% in amount, voted to reject it.

The plan confirmation hearing is scheduled for June 28.

Black Gaming, a Mesquite, Nev., casino operator, filed for bankruptcy on March 1. Its Chapter 11 case number is 10-13301.

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