Tuesday, March 20, 2012

Silver Legacy Financial Agreement Reached

The Silver Legacy hotel and casino in Reno, the site of this September's Gun Blogger Rendezvous,  has been struggling financially,  like most of the casinos out there. Part of this is due to the economy, and part of it is due to additional competition from tribal casinos.

On the first of March a note from their creditors for 142 million dollars was due, and the Silver Legacy's owners were not able to come up with the money to pay off the note. The casino owners and the creditors have been in negotiations trying to work out an agreement to restructure the debt and to allow the Silver Legacy to continue in business and avoid bankruptcy.

I just received an email from the Silver Legacy that an agreement has been reached, and the Silver Legacy will continue on, business as usual. This is great news for the Gun Blogger Rendezvous, as the Silver Legacy folks have always been great to work with, and I really didn't want to have to re-locate the Rendezvous to another facility.

Here's the Reno Gazette Journal article

See you all in Reno in September!