December 3, 1990 |
Bally Manufacturing Corp. made a $17.2-million interest payment today on mortgage-backed notes on its Bally's Grand casino in Atlantic City, buying the company more time to pursue a restructuring plan. Bally's Nevada casino division defaulted last month on an $18.4-billion bond payment, raising speculation that the gaming, health club and manufacturing company was headed toward bankruptcy. Neil Jenkins, Bally's general counsel, confirmed the interest payment and said Arthur M.
August 30, 1989 |
New Jersey investor Arthur M. Goldberg extended his $163.6-million tender offer for Di Giorgio Corp. today and warned the company's board not to shop the company around for too long. Goldberg extended his $32-a-share bid for the food distribution and building materials company until Sept. 20. The cash offer, launched Aug. 3, was due to expire at midnight today. As of Tuesday, 3,820 shares had been tendered to Goldberg's DIG Acquisition Corp.
April 3, 1991 |
Bally Manufacturing Corp. said Tuesday that it will turn over control of its two Nevada hotel-casinos to creditors in a debt-for-equity swap aimed at keeping the foundering gaming company out of bankruptcy court. Chicago-based Bally will continue to manage the Las Vegas and Reno properties on a contract basis, the company said in a statement.
October 12, 1990 |
Bally Manufacturing Corp. today suspended dividend payments on its common stock and said it will skip a scheduled Oct. 15 interest payment of about $18.4 million on first mortgage notes of Bally Grand Inc., the subsidiary that operates Bally's Nevada casinos. The company emphasized that failure to make the October interest payment on the 11.5% Bally Grand first mortgage notes due in 1996 will not constitute a default. The notes provide for a 30-day grace period.
May 17, 1995 |
Bally Entertainment Corp. is planning a $420-million Paris-themed resort, complete with a 50-story replica of the Eiffel Tower, on the burgeoning Las Vegas Strip. Construction is set to begin late this year on Bally's Paris Casino-Resort, with completion expected in late 1997, the company said Tuesday. Chairman Arthur M. Goldberg said continued high occupancy levels at Las Vegas hotels convinced him to proceed with the 2,500-room Paris-themed resort.