Fitzgerald casino - something is
Fitzgerald's Casino & Hotel
Legal Representative
IRBY, JR., PEYTON
WATKINS, LUDLAM, WINTER & STENNIS, P.A.
PO Box
Jackson, MS
Additional Service
MAJESTIC STAR CASINO
Additional Service
UNITED STEEL, PAPER AND FORESTRY, RUBBER MANUFACTURING, ENERGY ALLIED INDUSTRIAL AND SERVICE WORKERS
Additional Service
MAJESTIC STAR CASINO
Employer
FITZGERALD&#;S GAMING CORPORATION
Individual
Fitzgeralds Gaming
Fitzgeralds Gaming was a gaming and hotel company based in Reno, Nevada, that operated four casinos under the Fitzgeralds brand. It filed for Chapter 11 bankruptcy in December , and subsequently sold all its properties.
History[edit]
Lincoln Management[edit]
Lincoln Management Inc. was founded in by Philip Griffith and several other former casino executives of the Summa Corporation, who had worked at Harolds Club in Reno and the Sands Casino in Las Vegas.[1] It was formed to assume the management of the nearby Fitzgeralds Hotel-Casino under a contract with the casino's owner, Meta Fitzgerald.[1] Fitzgerald had operated the property since the death of her husband, the casino's founder, Lincoln Fitzgerald.[2] The new company's management agreement took effect in April [3]
In December , Lincoln Management exercised an option to buy Fitzgeralds from Meta Fitzgerald for $26 million.[4] On the same day, the company also assumed management of the Nevada Club, a nearby casino also owned by Fitzgerald; the property was closed briefly before reopening under the company's management in February [5][6][7]
Also in December , the company expanded into Southern Nevada, taking over management of the Sundance casino in Downtown Las Vegas for its owner, Moe Dalitz.[8] The following year, Lincoln's principals partnered with members of Oppenheimer & Co. to purchase the property from Dalitz.[9] The Sundance was rebranded under the Fitzgeralds name in March [10]
In , Lincoln Management bought Harolds Club from the Summa Corporation,[11][12] and also acquired the Nevada Club from Fitzgerald.[13]
In April , the company was selected by the Oneida Indian Nation to assist in developing the Turning Stone Casino and to manage the casino.[14][15] Before opening, however, the tribe opted instead to self-manage the casino.[15]
In May , the company received preliminary approval for a casino to be built near Tunica, Mississippi.[16] Fitzgeralds Tunica opened in June , at a cost of $46 million.[17][18] A hotel was added to the casino in at a cost of $34 million.[18]
In , the company made a bid for the last available gaming license in the Kansas City area, proposing a $ million casino in Sugar Creek, Missouri.[19] The license was awarded to Station Casinos instead, to build what is now the Ameristar Casino Kansas City. Station was later investigated for improper contact with the president of the gaming commission, and Fitzgeralds sued and received a $38 million settlement in [20]
Fitzgeralds Gaming[edit]
In , Lincoln Management was reorganized as Fitzgeralds Gaming Corp. in preparation for a potential initial public offering.[21][22] The IPO was canceled, however, in , because of weak stock market demand for mid-size casino companies.[23]
In May , the company opened Fitzgeralds Black Hawk in Black Hawk, Colorado. The company had assumed management of the casino and licensed the Fitzgeralds name to what had previously been the Main Street Casino.[24][25] Fitzgeralds Gaming bought a 22 percent interest in the casino in February for $ million, and then bought the remaining 78 percent in August for $27 million.[24][26]
Another casino under the company's management, the Cliff Castle Casino in Camp Verde, Arizona, owned by the Yavapai-Apache Nation, opened on the same day as Fitzgeralds Black Hawk.[27] Fitzgeralds operated the casino until , when the tribe bought out the management agreement for $8 million.[28]
Meanwhile, Fitzgeralds disposed of two of its smaller properties. The company closed Harolds Club in March and sold it two months later for $ million.[29][30] The Nevada Club was closed in December , and six months later was sold to the neighboring Harrah's Reno for $ million.[31][32]
In , the company found itself in financial difficulty because of slower than expected growth and stiff competition.[33] It defaulted on payments to bondholders in July , and began negotiating a debt restructuring.[34] A deal was ultimately reached for the company to sell three of its casinos (Las Vegas, Tunica, and Black Hawk) to Indiana-based Majestic Star Casino for $ million, and for bondholders to forgive much of the company's remaining $ million in public debt.[35] The plan was filed in December as a prepackaged bankruptcy case.[35] The sale of the three properties was completed in December [36]
The agreement with bondholders also called for Fitzgeralds Reno to be sold.[37] No buyer was readily found, because of concerns about competition from Northern California Indian casinos and disruption from a railroad construction project next to the property.[38] In , the casino was taken off the market, and ownership of Fitzgeralds Gaming was transferred to its creditors, a group of institutional lenders.[39]
Fitzgeralds Reno was finally sold in November to L3 Development, developer of the neighboring Montage Reno condominiums, leaving Fitzgeralds Gaming with no remaining operations.[40][41]
List of properties[edit]
References[edit]
- ^ abVoyles, Susan (October 30, ). "Summa execs resign to run Fitzgerald's". Reno Gazette-Journal &#; via www.enthralaviation.com (Part 2 of article)
- ^Kling, Dwayne (). The Rise Of The Biggest Little City: An Encyclopedic History Of Reno Gaming. University of Nevada Press. p.&#; ISBN&#;.
- ^Voyles, Susan (March 22, ). "Fitzgeralds partners given licenses". Reno Gazette-Journal &#; via www.enthralaviation.com
- ^Anderson, Tim (March 16, ). "Betting on a turnaround". Reno Gazette-Journal &#; via www.enthralaviation.com (Part 2 of article)
- ^Miller, Ken (January 1, ). "Historic Nevada Club closes its doors". Reno Gazette-Journal &#; via www.enthralaviation.com
- ^Miller, Ken (January 31, ). "Nevada club reopens Tuesday with '40s look". Reno Gazette-Journal &#; via www.enthralaviation.com
- ^Jerkovich, Roger (February 4, ). "Awaiting opening". Reno Gazette-Journal &#; via www.enthralaviation.com
- ^Morrison, Jane Ann (November 26, ). "Fitzgerald's operators to run Sundance in Vegas". Reno Gazette-Journal &#; via www.enthralaviation.com
- ^"After 3 years, gaming panel OKs sale of Sundance". Reno Gazette-Journal. AP. October 16, &#; via www.enthralaviation.com
- ^"Fitzgeralds to hold fetes". Reno Gazette-Journal. March 17, &#; via www.enthralaviation.com
- ^Morrison, Jane Ann (May 20, ). "Gaming Commission rules out slots in art galleries". Reno Gazette-Journal &#; via www.enthralaviation.com
- ^Voyles, Susan (August 7, ). "Casino owners miffed, want downtown cleaned up". Reno Gazette-Journal &#; via www.enthralaviation.com
- ^Stearns, John (February 7, ). "$6 million price tag on Nevada Club". Reno Gazette-Journal &#; via www.enthralaviation.com (Part 2 of article)
- ^Gonzalez, Daniel (June 18, ). "Oneidas picked a winner to run casino, experts say". The Post-Standard. Syracuse, NY &#; via NewsBank.
- ^ abForm K Annual Report (Report). March 31, p.&#;11 &#; via EDGAR.
- ^Campbell, Sarah C. (May 25, ). "Nine Tunica casino sites win OK". The Commercial Appeal. Memphis, TN &#; via NewsBank.
- ^Lollar, Michael (July 17, ). "Gaming choices are just short drive from Memphis". The Commercial Appeal. Memphis, TN &#; via NewsBank.
- ^ abForm K Annual Report (Report). Fitzgeralds Gaming. March 31, p.&#;5 &#; via EDGAR.
- ^"Suit: Station 'rigged game' to get license". Lawrence Journal-World. 22 December Retrieved 12 October
- ^"Station Casinos settles for $38 million in Missouri". Las Vegas Review-Journal. 12 February Retrieved 12 October
- ^Robbins, James (December 10, ). "Fitzgeralds considering going public". Reno Gazette-Journal &#; via www.enthralaviation.com
- ^Robbins, James (August 3, ). "Fitzgeralds mulls public offering". Reno Gazette-Journal &#; via www.enthralaviation.com (Part 2 of article)
- ^Robbins, James (October 24, ). "Fitzgeralds cancels public offering". Reno Gazette-Journal &#; via www.enthralaviation.com
- ^ abStearns, John (March 2, ). "Fitzgeralds closer to ambition in Colorado". Reno Gazette-Journal &#; via www.enthralaviation.com
- ^Form K Annual Report (Report). Fitzgeralds Gaming. March 31, p.&#;9 &#; via EDGAR.
- ^Form K Annual Report (Report). Fitzgeralds Gaming. March 31, p.&#;F &#; via EDGAR.
- ^Form K Annual Report (Report). Fitzgeralds Gaming. March 31, p.&#;2 &#; via EDGAR.
- ^Form K: Annual Report (Report). Fitzgeralds Gaming. March 30, p.&#;9 &#; via EDGAR.
- ^Cox, Don (April 1, ). "Harolds Club closes". Reno Gazette-Journal &#; via www.enthralaviation.com
- ^Form K Annual Report (Report). Fitzgeralds Gaming. March 31, p.&#;F &#; via EDGAR.
- ^Cox, Don (December 30, ). "Nevada Club shut down ahead of schedule". Reno Gazette-Journal &#; via www.enthralaviation.com
- ^Stearns, John (June 19, ). "Harrah's comes through". Reno Gazette-Journal &#; via www.enthralaviation.com
- ^Wilen, John (May 20, ). "Fitzgeralds pumps funds into casinos, restructuring debt". Las Vegas Sun. Retrieved
- ^Strow, David (July 26, ). "Bankruptcy likely for LV casino company". Las Vegas Sun. Retrieved
- ^ ab"Fitzgeralds in bankruptcy, three casinos being sold". Las Vegas Sun. December 6, Retrieved
- ^Flaum, David (December 7, ). "New owners at Fitzgeralds; Indiana firm takes charge". The Commercial Appeal. Memphis &#; via NewsBank.
- ^Stearns, John (May 10, ). "Fitzgeralds earnings down in 1st quarter". Reno Gazette-Journal &#; via www.enthralaviation.com
- ^Walsh, Thomas J. (March 15, ). "Fitzgeralds proving to be a tough sell". Reno Gazette-Journal &#; via www.enthralaviation.com
- ^Walsh, Thomas J. (August 26, ). "Fitzgeralds gets new owners, management". Reno Gazette-Journal &#; via www.enthralaviation.com (Part 2 of article)
- ^"L3 Development completes purchase of Fitzgeralds Casino/Hotel" (Press release). L3 Development. November 1, &#; via BusinessWire.
- ^Riley, Brendan (October 19, ). "Cashell's son to run Fitzgeralds". Reno Gazette-Journal. AP &#; via www.enthralaviation.com
Further reading[edit]
Fitzgeralds Casino Hotel Tunica
Lucky Lane
Tunica Resorts, Mississippi
()
#1 Choice of U.S. Players!Mobile, tablet and desktop!
ONLINE SLOTS + U.S. Most Popular Casino + $3, at BOVADA
Get BITCOIN BONUS of $3, at BOVADA!
Click for Practice Play
FREE CASINO GAMES • No Signup • Instant Play
- BYPASS THE LOGIN and go directly inside BOVADA CASINO to play these free games. No signup. No deposit.
More 'Practice Play' Games
Slots, Table Games and Poker
More 'Practice Play' Games - Slots, Table Games and Poker
Click For Practice Play
No Signup • Instant Play
Direct access to play casino games free inside BOVADA.
Click For Practice Play
No Signup • Instant Play
Direct access to play casino games free inside BOVADA.
Gaming
Restaurants
Don B's Steakhouse
Players Snack Bar
Riverview Buffet
Entertainment Venue
Hotel
Guest Rooms
VOTED #1 USA
Most Popular Online Casino
Most USA Players
CASINO • LIVE DEALER • POKER • SPORTSBOOK • RACEBOOK
Play Blackjack, Baccarat, Roulette or Super 6 with a live dealer. Get the casino or bitcoin welcome bonus at BOVADA
-