Casino files for bankruptcy in South Dakota cityPosted: Updated:
DEADWOOD, S.D. (AP) - A hotel and casino in the western part of South Dakota has filed for bankruptcy protection just two months after actor-director Kevin Costner shuttered the doors on his area casino.
The Rapid City Journal reports that the Celebrity Hotel and Casino filed documents seeking protection from creditors last week in U.S. Bankruptcy Court for the District of South Dakota. The hotel is owned by Rolling Hills Farms Investments Inc.
The property's general manager says the Celebrity isn't in danger of imminent closure and that the owners are going through a period of reorganization.
The head of the Deadwood Gaming Association says the Celebrity's bankruptcy filing and Costner's closing of the Midnight Star may indicate an emerging trend in the gaming industry. But he says Deadwood is still seeing $100 million in annual casino revenues.
Information from: Rapid City Journal, http://www.rapidcityjournal.com
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