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February 4, 2013

Chickasaw affiliate no longer planning to buy Mississippi casinos

(Continued)

JACKSON, Miss. (AP) —

“We are disappointed with the actions that Global has taken with respect to its obligations under the purchase agreement,” Legends President Raymond Cook said in a Jan. 31 press release. “In view of those actions, we believe that it is in the best interest of the Company to move forward with an alternative plan of reorganization, with the full support of our creditors.”

Legends did not immediately respond Monday to questions about what alternatives it would pursue. Global did not immediately respond to a request for comment.

Cook said the Bossier City and Vicksburg casinos would continue to operate and that employees would not be affected.

Employment at the Vicksburg property has fallen to 342 as of Sept. 30, the third smallest of the four casinos currently operating there. A fifth casino closed and filed for bankruptcy in Vicksburg, traditionally Mississippi’s third-largest casino market.

A Louisiana state report from last year says 685 people worked then at the Bossier City DiamondJacks.

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