The new Invite and you may Consent Solicitation expired on p

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Las vegas , /PRNewswire/ — The fresh Regal Star Gambling establishment, LLC (“Majestic”) established now brand new expiration and final results of the before established Invite (the latest “Invitation”) into owners of the twelve.5% / fourteen.5% Senior Cards owed 2016 (brand new “Notes”) to be loan providers inside an alternative 12.5% / 14.5% First Lien Secured Term Loan Facility (the latest “The fresh new Title Mortgage”) and the associated solicitation out of consents (the “Consent Solicitation”) from the proprietors of one’s Cards to the use from suggested amendments with the Indenture (the brand new “Indenture”) additionally the Intercreditor and Lien Subordination Agreement (the fresh new “Intercreditor Agreement”) relating to the Notes. Regal generated the Invitation and you can Concur Solicitation pursuant into Information Memorandum and you can Agree Solicitation Statement, dated at the time of , since supplemented from the Supplement Zero. 1 dated as of (the newest “Suggestions Memorandum”).

yards. , New york city date, to your (the fresh “Conclusion Go out”). Before the Conclusion Time, Majestic acquired valid deliveries of about $109.dos billion in aggregate prominent amount of this new Notes, symbolizing obligations regarding This new Label Loan for the very same aggregate dominating matter. Into (the fresh “Closure Date”), Majestic accepted all including Notes and you may entered towards This new Term Financing. People off Notes one to participated in the Invitation obtained accumulated and delinquent notice into Notes around, although not along with, the fresh new Closing Time, inside cash. Immediately following giving perception towards the cancellation out of Cards recognized regarding the Invitation, whenever $1.nine mil inside aggregate dominant amount of new Cards are still a good.

Owners off Cards exactly who produced obligations to be lenders on the This new Label Mortgage agreed to this new proposed amendments into Indenture and also to the latest Intercreditor Agreement, and therefore amendments, among other things, eliminated the restrictive covenants and certain situations out of default included in the Indenture, put out all of the liens on the collateral securing the fresh Notes under the Indenture and you may enhanced the level of permitted financial obligation put onward from the Intercreditor Contract. The brand new advised amendments turned effective on the Closure Day. All of the accumulated and you will unpaid notice on Cards you to remains the, together with accrued and you can unpaid attract up to and including the new Closure Big date and all sorts of future notice, would be paid-in type with the the amount established during the the latest Intercreditor Agreement. Properly, the newest people of every Cards you to are nevertheless a great pursuing the Closing Date are certain to get their second interest commission through an installment-in-form into the or just around .

The fresh Regal Celebrity Gambling establishment, LLC Announces Termination and you will Final results of their Invite in order to Proprietors of A good Senior Cards to be Lenders inside a different sort of Name Loan and Associated Consent Solicitation

So it launch is actually for informative objectives just and that is neither an enthusiastic provide to get or promote neither a solicitation from a deal to buy otherwise promote one bonds of Regal otherwise any of its subsidiaries otherwise moms and dad organizations.

The newest Majestic Superstar Local casino, LLC, was a multiple-jurisdictional betting providers you to possesses and you will works: a couple adjoining dockside betting institution (Regal Superstar and Majestic Superstar II) and you can a hotel based in Gary, Indiana , and you will a Fitzgeralds-branded local casino and you will resort based in Tunica, Mississippi (Fitz Tunica). Details concerning the Regal Superstar Gambling establishment, LLC, and its gambling enterprise features is present within organization’s site, majesticstar.

Certain comments contained in this news release which are not historical facts are submit-appearing comments. Such as for instance send-looking comments, and this echo the latest imperative link viewpoints of future events and you can financial efficiency, include specific risks and you will uncertainties. Forward-lookin comments become every statements that are not historic reality and are going to be acknowledged by terms particularly “could possibly get,” “desire,” “you are going to,” “often,” “will be,” “you’ll,” “do,” “allowed,” “predict,” “believe,” “guess,” “bundle,” “venture,” “assume,” “prospective,” and/or negative of them terms. This type of send-looking statements represent the requires, values, agreements and traditional from the all of our applicants for the future or any other future situations, including all of our capability to make sufficient working capital, all of our future consequence of operations and you will monetary updates, expectations regarding the procedure of our own gambling establishment characteristics, as well as the sufficiency of our cash balances and cash made of doing work, expenses, and you may funding circumstances for the upcoming exchangeability and you may investment resource demands. Even when this type of forward-looking comments echo our very own a good-trust trust and realistic judgment centered on latest suggestions, these types of comments was qualified by the tips, some of which are past the manage, that may end in our very own real brings about differ materially out-of those individuals regarding the give-looking statements, in addition to, but not limited to the standards according to the titles “Cautionary Report From Submit-Lookin Statements” and you can “Chance Factors” from the Recommendations Memorandum. Majestic assumes on no duty to improve or complement submit-lookin statements you to end up being incorrect because of then situations, the fresh new guidance or else.