According to Bally’s, they are owed $3 million which they gave to Delta Investments and Development, which owns Grand Station, to renovate the casino and buy new equipment.
A foreclosure sale was originally scheduled for Monday, but was canceled when Bally’s and Delta agreed to additional talks. The casino also postponed a plan to plan to lay off 211 workers.
“I am disappointed that Delta Investments has failed to facilitate the acquisition of this property, and I am also concerned about the future of the 230 employees who are losing their job at this facility,” said Vicksburg Mayor Winfield. “The Winfield administration is prepared to work with any developers or prospects to help encourage new ownership of this facility.”
Delta bought the northern Mississippi casino in 2010 for $3.25 million in cash plus liabilities, one of which was a lease with the city of Vicksburg.