“Everything will be just the same on March 31 as on March 30,” said Hooters President Michael Hessling.

Canyon Capital won the sale at a price of $60 million using the process known as credit bidding. This is when a secured creditor who is holding collateral to back a loan can bid the amount of its debt dollar for dollar without adding any additional cash.

The company has not said anything about what it plans to with Hooters, but it has taken over a few casinos facing financial woes and attempted to revive them.

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