Majestic Star plans loan amendment to revise interest coverage and minimum EBITDA

By Sara Rosenberg

New York, June 20 - The Majestic Star Casino LLC expects to amend the interest coverage ratio and minimum EBITDA covenants under its $80 million credit facility as a result of weaker-than-anticipated financial performance, according to an 8-K filed with the Securities and Exchange Commission Tuesday.

The company anticipates that it will be successful in negotiating the amendment that will ensure future compliance with the covenants.

Majestic Star is a Las Vegas-based owner and operator of casino hotels.

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