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Detroit businessman buying Fitzgeralds casinos in Las Vegas, Colorado and Mississippi

Tuesday, Dec. 5, 2000 | 4:33 a.m.

Detroit businessman Don Barden's Majestic Star Casino company announced plans Tuesday to buy three casinos for $149 million from Las Vegas-based Fitzgeralds Gaming Corp.

The casinos are in downtown Las Vegas (638 rooms, 1,050 slot machines), Tunica, Miss. (507 rooms, 1,215 slots), and Black Hawk, Colo. (586 slots).

As part of the deal, Fitzgeralds said it would file for Chapter 11 bankruptcy protection in Reno. Fitzgeralds also owns a casino in Reno, which is not included in the deal with Barden and will be sold separately.

Fitzgeralds has been struggling under a heavy debt load and said its bankruptcy filing was approved by debt holders.

Barden's Majestic Star Casino has a casino riverboat with 1,447 slots in Gary, Ind., on Lake Michigan. It's one of only a handful of privately held casino companies in the nation and is the only casino company in the world owned by a black person, Majestic Star said.

Barden is well-known in Detroit as an unsuccessful bidder for one of the three casino licenses in that city. He has other business operations including interests in real estate, distribution ventures and radio broadcasting.

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