GARY – The Indiana Gaming Commission has approved the transfer of ownership of Majestic Star Casino in Gary to Wayzata Corp. of Minnesota.
Wayzata was a creditor of Majestic Star when it was owned by the late Don Barden. Majestic Star has been in bankruptcy.
The commission said that although there were several creditors owed money by Majestic Star, Wayzata’s stake in the casino was the largest.
Wayzata Corp. is owned by Wayzata Investment Partners, which manages five investment funds with $7.5 billion in holdings.
