Tuesday, October 28, 2008

Casino Operator Adds Creditor Consulting Business

Feather News

A casino developer and operator of facilities in California and Nevada has added creditor consulting service to their portfolio of offerings.

Noting that creditors may end up playing a greater role in troubled casinos, including investors that hope to control casinos' operations, Nevada Gold & Casino Inc CEO Robert Sturges said, "We recognize that many management teams, boards, creditors and Native American tribes may find themselves in positions they never expected based on the severe fall-off in many gaming markets."

"We likewise recognize that many creditors may end up playing a much greater role in operating casino assets than they ever expected. We also realize that there’s a growing asset class of distressed debt investors that purchase gaming debt in an effort to gain control of the operating assets (casinos)."