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StumbleSilicon Gaming to default on notes
Friday, July 2, 1999 | 11:46 a.m.
Silicon Gaming Inc., developer of the "Odyssey" slot machine, said it failed to make a scheduled interest payment Thursday on $47.25 million of senior discount notes and expects to be in default on the payment by July 15.
Silicon said it "does not currently intend to make the scheduled interest payment," but its negotiating with the note holder a potential restructuring of the debt.
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