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Northern Nevada casino owner Holder Hospitality Group filed for bankruptcy in June to reorganize six casino properties. As part of the process foreclosure notices have been issued for three properties in the Elko area prompting a public auction hearing on December 23.
According to Tom Clark a spokesman for the gaming company they are in the process of making arrangements to stop the casinos from closing and jobs being lost.
Northern Nevada Asset Holdings (NNAH) holds the notes for funds borrowed by Holder Group and according to court documents filed a motion with the courts to foreclose and auction the properties and everything inside including slot machines.
Representatives from 777 Gaming in connection with NNAH, are attempting to obtain the necessary licenses and will go before the gaming board today to make a play for the properties.
While the Board makes the recommendations for the gaming license, the final decision weighs on the Gaming Commission who will discuss the issue on December 17.
Once the licenses are approved the group plans to request the courts to finalize a sale and allow NNAH to own the properties and the experienced gambling firm 777 Gaming to operate the casinos.
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