155 East Tropicana, LLC (DBA Hooters Casino Hotel) Files For Chapter 11

155 East Tropicana, LLC (DBA Hooters Casino Hotel) filed for Chapter 11 yesterday at the United States Bankruptcy Court for the District of Nevada.   The Las Vegas-based casino/hotel is represented by Gordon Silver as counsel and Alvarez & Marsal as financial advisor.  The largest unsecured creditor is listed as U.S. Bank, National Association with an approximate $162.2 million claim ($16 million secured).

According to the CFO Declaration, the Debtor has 696 hotel rooms, 590 slot/video machines and 20 table games.  Additionally, the Debtor owns a six level parking garage and an executive office building.   Net revenues for 2010 were $43.6 million.

The Debtor attributes the Chapter 11 filing to high leverage, declining economic conditions, tight credit markets and an increased hotel room inventory throughout las Vegas.

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Dynasty Development Group, LLC Files For Chapter 11

Debtor Name:  Dynasty Development Group, LLC Year Filed:  2011 Jurisdiction:  United States Bankruptcy Court / SD of MS Asset Size:  10,000,000 to 100,000,000 Case Number:  11-50997 Industry:  Entertainment/Recreation, Lodging, Gaming

dba  Paradise Bay Hotel & Casino

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Aliante Gaming, LLC Files For Chapter 11

Debtor Name:  Aliante Gaming, LLC Year Filed:  2011 Jurisdiction:  United States Bankruptcy Court / District of Nevada Asset Size:  100,000,001 to 500,000,000 Case Number:  11-51216 Industry:  Entertainment/Recreation, Lodging, Gaming

Total indebtedness is approximately $423.7 million consisting of $359.6 million in principal and $45.3 in accrued interest under existing credit agreement.  Also $18.8 from swap agreement. (Declaration of Senior VP)

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Suffolk Regional Off-Track Betting Corporation Files For Chapter 9

Debtor Name:  Suffolk Regional Off-Track Betting Corporation Year Filed:  2011 Jurisdiction:  United States Bankruptcy Court / ED of NY Asset Size:  10,000,000 to 100,000,000 Case Number:  11-71699 Industry:  Gaming, Chapter 9 Proceeding, Government

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