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Hollywood Casino Shreveport in Debt Restructuring Talks

DALLAS, Texas – As reported by Dow Jones: "Hollywood Casino Shreveport, an indirect unit of Penn National Gaming Inc. (NasdaqNM:PENN) , is in negotiations with representatives of noteholders regarding a possible restructuring of its debt or other possible resolution.

"As reported, Hollywood Casino received notice from the representatives of the holders of the $150 million senior secured notes due 2006 and the $39 million first mortgage notes due 2006, issued by Hollywood Casino and Shreveport Capital Corp., that Hollywood Casino had failed to make repurchase offers as required under the indentures governing the respective notes and, consequently, was in default under both note indentures.

"…HCS I Inc., the managing general partner of Hollywood Casino, said in a news release Wednesday that it can't assure any such restructuring or resolution can be agreed upon and effected…"

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