The Majestic Star Casino, LLC ("the Company") was formed by Mr. Don Barden in December 1993 to pursue one of two gaming licenses at Buffington Harbor in Gary, Indiana.
In June 1996, along with Trump Indiana, both companies opened dockside facilities
to take advantage of gaming opportunities in the Chicagoland market, now the third
largest gaming market in the United States behind Las Vegas and Atlantic City.
In December 2001, the Company grew substantially with the purchase of the Fitzgerald-brand
properties in Las Vegas, Tunica, Mississippi (30 miles south of Memphis) and Black Hawk, Colorado (35 miles west of Denver). With these additions, the Company
diversified itself into a national gaming company.
On December 31, 2003, the Fitzgeralds Las Vegas property was spun out of the Company
to Barden Development Inc., the Company's ultimate parent and member, and also owned
by Mr. Barden. Fitzgeralds Las Vegas and the Company have entered into an
expense sharing agreement in which Fitzgeralds Las Vegas reimburses the Company
for certain services provided by the Company.
On December 21, 2005, the Company took another step forward by acquiring the Trump
facilities at Buffington Harbor. We re-branded Trump Indiana's casino vessel
as the Majestic Star II and Trump Indiana's 300 room hotel as the Majestic Star
Hotel. At Buffington Harbor, we now have complete ownership of both the Majestic
Star and Majestic Star II casino operations, the previously mentioned hotel, the
pavilion that houses the restaurants, retail outlets, entertainment venue, lounge
and boarding access to our two casinos, and a 2,000 space parking garage.
We also have 240 acres of undeveloped land for future expansion and the addition
of amenities to support our gaming operations.
As of December 31, 2005, our casinos (including Fitzgeralds Las Vegas) collectively included approximately 5,800 slot machines, 165 table games, 21 poker tables and
1,441 hotel rooms.
The Company currently has $300.0 million of 9.5% senior secured notes, due October
2010, and $200.0 million of 9.75% senior notes, due January 2011, outstanding.
In addition, the Company has an $80.0 million revolving credit facility that will
mature in April 2010.
For more information about the Company, we ask that you further explore our website
in which the Company maintains its annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, press releases and presentations made to the investment community.
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Don H. Barden
Manager, Chairman,
President and
Chief Executive Officer
View Bio
Jon S. Bennett
Vice President and
Chief Financial Officer
View Bio
Kirk Saylor
Vice President and
Chief Operating Officer
View Bio
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