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Majestic Star Casinos, owned by Detroit businessman Don Barden, defaulted on $ million in debt this month when it missed a $24 million.


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Majestic Star Casinos, owned by Detroit businessman Don Barden, defaulted on $ million in debt this month when it missed a $24 million.


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In his bid for a Pittsburgh casino, Don Barden told state gaming Occupation: Owner, Majestic Star Casino LLC, with casinos in Gary, Ind.; Las.


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Architect Strada's rendering of the Majestic Star Casino planned for Isle of Capri Casinos Inc., with its well-publicized campaign to fund a new.


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Ep. 230 - Majestic Star Casino (2/2) - August 19, 2013

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UPDATE 2-Majestic Star Casino files for bankruptcy The owner of casinos in Indiana, Mississippi and Colorado has suffered as Barden recently lost control of a casino in Pittsburgh after it ran into money problems.


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Ep. 254 - Majestic Star Casino (2/2) - December 9, 2013

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When I do a search for Pittsburgh casinos on Google Maps, it shows two, right downtown, on opposite sides of the river: Rivers Casino and Majestic Star Casino​.


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The Rivers Casino (originally going to be named the Majestic Star Casino) is a the Pittsburgh casino license: North Shore Gaming, LP, Isle of Capri Casinos.


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Groundbreaking for Pittsburgh's Majestic Star Casino. #1 Casino Choice of U.S. each to the city and county. Return to Pennsylvania Casinos.


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When I do a search for Pittsburgh casinos on Google Maps, it shows two, right downtown, on opposite sides of the river: Rivers Casino and Majestic Star Casino​.


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Architect Strada's rendering of the Majestic Star Casino planned for Isle of Capri Casinos Inc., with its well-publicized campaign to fund a new.


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There is no indication in the report that Barden's holdings were independently verified or that gaming investigators conducted a financial analysis. Majestic is the second Pennsylvania casino to see a change in control since slots were approved here. Barden" that included personal tax returns. That prompted the board to appoint a temporary overseer for Mount Airy until his legal case is resolved. In January, DeNaples was charged with perjury for allegedly lying to the gaming board about ties to organized crime to gain his license. Gaming investigators, Harbach said, "completed and then provided to the board an in-depth investigation on the finances for Mr. Harbach gave several scenarios for the red ink on Barden's federal tax forms, noting "the losses generated by [his ownership of different entities] do not reflect actual cash out of pocket. Contractors stopped working on July 1 after going months without pay, and lenders began threatening to drag the venture into bankruptcy, according to Bluhm and Barden. Status: Agreed to sell majority stake of Pittsburgh project after failing to secure funding for construction.{/INSERTKEYS}{/PARAGRAPH} Gaming investigators interviewed Barden's chief financial officer, who said his companies are "cash flow positive. Barden's short tenure as majority owner of Majestic has drawn additional scrutiny of gaming regulators already being questioned for their licensing approval of Scranton area businessman Louis DeNaples, owner of the Mount Airy. Gaming board spokesman Doug Harbach said Barden's finances were investigated thoroughly. But he found himself unable to get enough money from banks and investors badly wounded and wary after huge mortgage-lending losses. An S corporation does not pay federal income taxes; shareholders share in losses and income and report both on their tax forms. Last month, the Detroit businessman lost majority control of Pittsburgh's Majestic Star Casino amid money problems unrelated to him personally. Barden had planned to use borrowed money to finance the entire casino in downtown Pittsburgh's stadium district along the Ohio River. Barden's gambling losses were not disclosed to the public. {PARAGRAPH}{INSERTKEYS}Report in hand, the gaming board in December awarded Barden a slots license. Barden also provided investigators real-estate deeds, bank statements, check registers, brokerage statements and trust information, the report shows. Barden or any other individuals. DeNaples has said he is not guilty. Barden attributed the tax form losses to his "S corporations," which he said he refinanced, taking "huge losses," according to the report. Barden will retain 20 percent of the casino, which will be renamed. But the gaming board knew about them when it awarded him a license, Chairwoman Mary DiGiacomo Colins has said. His personal federal tax forms showed negative income for five straight years, red ink he blamed on losses from corporate investments, the report shows.