Horseshoe Gaming considering calling 9 3/8% notes

New York, May 7 - Horseshoe Gaming Holding Corp. said it is evaluating whether to call its 9 3/8% senior subordinated notes at their first call date on June 15.

Including the call premium, the cost of redeeming the bonds would be $166.5 million, the Tinley Park, Ill. casino operator said in a filing with the Securities and Exchange Commission.

Cash flow from operations, existing cash and borrowing capacity available on its credit facility would be enough to cover the cost of the call, Horseshoe Gaming added.

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