Here’s some facts that we know:
- Don Barden is delaying plans for construction of an outdoor amphitheater and boat dock at his North Shore casino and is altering the look of a riverfront promenade, all in a bid to save money. The proposed changes drew a rebuke from the Riverlife Task Force, which maintained that Mr. Barden was cutting corners on amenities that sold the state Gaming Control Board on his project and won him the city’s sole slots license.
- Work on the North Shore slots parlor came to a halt yesterday after Don Barden failed to come up with $10 million needed to keep construction going, even as he announced he had secured a $120 million investment in the project from a company headed by a Chicago billionaire and fellow casino owner.
- The heavy borrowing by Mr. Barden had been a concern of Wall Street credit rating agencies and forced the Detroit businessman to put his Fitzgerald’s casino in Las Vegas up for sale to raise $35 million to invest in his North Shore slots parlor.
- He noted one of his concerns is that with the $120 million investment replacing Apollo’s $150 million loan, Mr. Barden still appears to be $30 million short of the $780 million he said he needed to complete the casino’s financing.
- The losses are piling up for Don Barden’s casinos in Indiana, Mississippi and Colorado.
- In an annual report filed Friday, Majestic Star Casino LLC reported $26.1 million in losses last year and claimed $556.7 million in debt, leaving it with very little cash to upgrade its properties to better compete.
I’d like to know:
1. I’d like to know if it’s too late to give the license to Franco or Mario or you know, anyone with actual money or at least the ability to get their hands on actual money.
2. I’d like to know why they picked Don Barden in the first place. I mean, really why. Not the fake reasons. The REAL reasons. Like specifically, I would like to know who he has dirty pictures of.