Several major casino companies in the USA are grappling with heavy debt, USA Today News reported last week.
Caesars Entertainment, the biggest operato, with 52 properties worldwide, is working with its lenders to manage $22 billion in debt tied to when the company was taken private in 2006, according to gaming analysts in Reno.
MGM Resorts International, whose properties include the Bellagio, has $13.6 billion of its own debt.
Tribal-owned Foxwoods in Connecticut, the USA’s biggest casino is restructuring a debt estimated at $2 billion.
Other casinos facing multi-million dollar debts include Las Vegas’ Station Casinos and Reno’s 35-story Silver Legacy Resort Casino. “It’s not so much bad management on their part. It’s bad times,” Reno gaming analyst Ken Adams said of the struggling properties.
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