Horizon’s Edge Casino Cruise LLC filed Monday to liquidate under Chapter 7 of the bankruptcy code. The Lynn, Mass.-based operator of ocean gambling cruises stated its assets are valued at less than USD 50,000 and its liabilities between USD 500,001 and USD 1 million. Specific schedules of creditors had not been filed as of late Monday.

Los Angeles (Reuters) - A plan for the restructuring of MGM Mirage, suggested by investor Carl Icahn, would involve swapping debt for equity and be done in concert with Kirk Kerkorian, MGM's majority shareholder, a source familiar with the situation said on Friday. Some MGM bondholders, including Icahn, have floated the idea of the debt-laden casino operator filing for bankruptcy...

Las Vegas (AP) - Billionaire Carl Icahn and an investment fund believe MGM Mirage Inc. should file for bankruptcy, The Wall Street Journal reported Thursday. They want the Las Vegas-based casino operator to restructure its more than USD 13 billion in debt as soon as possible. A story posted on the newspaper's Web site Thursday citing unnamed sources...

Station Casinos has secured an extension until May 15 to continue negotiations on a prepackaged bankruptcy with its lenders and bondholders, the company announced late Tuesday. The terms of the proposal, which asks investors holding USD 2.3 billion in bonds to accept between 10 cents and 50 cents on the dollar in cash and new notes as part of a prepackaged Chapter 11 bankruptcy, remain unchanged.

Nevada's casino regulators are forming a team of securities experts, auditors and staffers to handle possible bankruptcies and debt restructurings in the gambling industry. State Gaming Control Board Chairman Dennis Neilander said in a letter to Nevada's industry licensees that the team's activity could disrupt some of the board's usual routine...

Riviera Holdings Corp. let another deadline slip by Thursday without making a USD 4 million loan payment but said it is still in talks with Wachovia Bank about restructuring its debts outside of bankruptcy court. Phil Simons, the company's chief financial officer, said Thursday that the company isn't planning to file for bankruptcy this week because of the talks.

The dispute between CityCenter developers MGM Mirage and Dubai World could land the giant project on the Las Vegas Strip in bankruptcy court. An insider at MGM Mirage on Thursday night confirmed that the CityCenter joint venture has hired the law firm Dewey & LeBoeuf, potentially for a bankruptcy filing if that becomes necessary. The source, who is familiar with negotiations that took place Thursday on the future of CityCenter, stressed that MGM Mirage itself did not hire the bankruptcy counsel.

Station Casinos plans to file for bankruptcy by April 15, the gaming company said this week in a federal court filing. Station's Monday filing came in response to a lawsuit filed by an individual bondholder challenging the gaming company's debt swap and prepackaged bankruptcy proposal. Station spokeswoman Lori Nelson, however, said Wednesday that the court response does not indicate any change in the company's plans. "Nothing has changed in our process," Nelson said.

It's no secret that Station Casinos is in deep financial trouble. For weeks now the company has been trying to negotiate a restructuring to avoid bankruptcy. Now, a pending lawsuit could halt those talks, which could force Station into default. So what does that mean for the thousands of Station employees and folks who frequent Station properties? Dan Ball reports. Early Wednesday, news websites across the country stated that Station Casinos will most likely file for Chapter 11 bankruptcy, but now that might not be the case.

Monticello - Empire Resorts reported steep losses in 2008 at its struggling Monticello racino, and company officials now say that bankruptcy could be looming. The owner of the Monticello Gaming & Raceway reported a net loss applicable to common shares of USD 12.2 million for 2008, compared with a loss of USD 26.2 million in 2007. Empire executives say the company's immediate future is in the hands of its creditors.

New York (Reuters) - Herbst Gaming, owner of the Nevada-based Terrible's Casino chain, said on Tuesday it plans to file a prearranged bankruptcy case to restructure its debt obligations. Herbst, which operates 12 casinos in Nevada including Buffalo Bill's and Whiskey Pete's, said it had reached an agreement with bank lenders holding about 68 percent of its loans on the plan.

Donald Trump is seeking to distance himself from Trump Entertainment Resorts, the casino company he founded, after it filed for bankruptcy protection for the second time in four years. The television star and property mogul continues to own a stake of about 28 per cent in the debt-laden group but resigned from the board last week following a dispute with the company's bondholders.