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Turning Point in Hollywood Casino Bankruptcy Imminent

LOUISIANA -- As reported by the Shreveport Times: "Two upcoming hearings, the first of which is today, could mean a major turning point in the Hollywood Casino bankruptcy.

"The results of the hearings will determine whether the casino's creditors will be able to vote on rival reorganization plans in addition to Hollywood's plan to sell to Eldorado Resorts LLC of Reno, Nev. Black Diamond Capital Management LLC, a major bondholder that's unsuccessfully tried to buy the casino several times, wants to submit its own reorganization plan in which it buys the property.

"In this morning's hearing, U.S. Judge Stephen V. Callaway will determine whether Hollywood Casino's period of exclusivity -- the 180 days that it alone can file a reorganization plan -- should be terminated. Black Diamond requested the period be ended..."

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