Majestic Star Casino I and II file Bk

In a move anticipated by not paying interest payment to creditors, Majestic Star Casino I and II filed for bankruptcy protection today. Both are in Gary and contribute millions to the budget of Gary, which is already in rough shape due to property tax caps mandated by the legislature.

Thoughts on where this ends up?

• Will the legislature move to take the licenses from Barden's control immediately?
• Will the legislature look to allow a land based casino in Gary and move one license to Fort Wayne as was rumored last year?
• Will Gary be forced to file for Distressed Unit Assistance this year at the State?