Washington Casino Files for Bankruptcy, Blaming Competition

Washington Casino Files for Bankruptcy, Cites Smoking Ban

DBR Small Cap ,

Joseph Checkler,

April 09, 2014,

(c) 2014 Dow Jones & Company, Inc.

                       

The owner of a Washington state casino filed for Chapter 11 on Tuesday, tracing its decline to a 2005 state smoking ban that drew gambling smokers to local Indian casinos where smoking is still allowed.

 

In a petition filed with U.S. Bankruptcy Court in Seattle, casino owner GSG Corp. listed less than $50,000 in assets and between $1 million and $10 million in liabilities. The company operates Freddie's Club casino and Diamond Lil's card room, located around the corner from each other in Renton, Wash., a town about 12 miles southeast of Seattle....

 

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