TITLE

Grant Thornton Predicts Gaming Bankruptcies

AUTHOR(S)
Marino, Jonathan
PUB. DATE
November 2009
SOURCE
Mergers & Acquisitions Report;11/9/2009, Vol. 22 Issue 45, p1
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article stresses that gaming firms in the U.S. are predicted to file for bankruptcy as they contend against slowing revenues and margins, based on a study conducted by restructuring professionals of Grant Thornton LP in 2009. The report cited factors that will continue to worsen problems facing casinos, including the ongoing drag on consumption. The stated reason behind the decision of Standard & Poor's to reduce the credit rating of Holdings Gaming Borrower from B to a B- was potential inability to meet debt service payments.
ACCESSION #
45177934

 

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