GARY – The owner of Majestic Star Casino in Gary has emerged from Chapter 11 bankruptcy.
Majestic Star’s largest shareholder, Wayzata Partners LLC of Minnesota, now owns the casino. It also owns Fitzgeralds casinos in Mississippi and Colorado.
The reorganization and transfer of ownership was recently approved by the Indiana Gaming Commission. Majestic Star filed for bankruptcy in 2009 when it reported $540 million in assets and $941 million in liabilities.
