Georgia-based slot machine operator Lucky Bucks filed for bankruptcy Friday, saying that it had reached a deal to cut $500 million in debt and turn over the company's equity to its lenders.
Lucky Bucks suffered from increasing interest rates on its debt, an inflationary environment that reduced consumers’ use of slot machines, and a regulatory crackdown on slot machine operators in Georgia, according to its court filings in Wilmington, Delaware bankruptcy court.
The state's increased policing of those rules caused the removal of 500 Lucky Bucks slot machines in the first five months of 2023 alone, according to court documents. James Boyden, Lucky Bucks’ executive vice president of corporate development, said in a statement that the bankruptcy would not cause any disruption for the company’s employees, business partners, or consumers.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Stimulus check update: Direct payment worth $500 to be sent to Minneapolis residents in 12 daysA guaranteed income program in Minneapolis processes its next payment to recipients in 12 days.
Consulte Mais informação »
Stimulus check update: Direct payment worth $500 will be sent in 13 daysA program sending $500 monthly payments to 305 families in Sonoma County, California, is sending its next payment to recipients 13 days from Thursday.
Consulte Mais informação »
GM invests $500 million to build large SUVs in Texas - AutoblogGeneral Motors is spending $500 million to upgrade the factory in Texas that builds the Chevy Tahoe, Suburban, GMC Yukon and Cadillac Escalade.
Consulte Mais informação »
GM to Invest $500 Million to Build Next-Generation Cadillac Escalade, Other Large SUVsThe notably profitable SUVs remain in high demand, and sales are needed to assist in funding the automaker’s investments in EVs.
Consulte Mais informação »
General Motors to pump $500 million into Arlington plant upgradesGeneral Motors will invest $500 million into upgrades at its massive Arlington assembly plant to continue building future internal combustion engines for SUVs. ...
Consulte Mais informação »
GM to invest $500 million at plant that makes large SUVs in ArlingtonGeneral Motors said Thursday that it will sink more than $500 million into its Arlington, Texas, assembly plant to get ready for the next generation of big SUVs with internal-combustion engines.
Consulte Mais informação »