“Our best efforts at structuring a deal outside of court have failed,” said Joseph Stamis, secretary and treasurer of Jerry’s Nugget. “It is now in the best interest of the company, our employees and our customers to utilize the bankruptcy process to reach more tradition refinancing terms, while maintaining the company’s normal operations.”

Jerry’s opened in 1964 and its 24,500-square-foot casino currently offers 630 slot machines and nine table games. The north Las Vegas casino also has a 150-seat bingo room.

According to company president Jeremy Stamis, brother of Joseph, the business has current value of at least $8 million. Casino officials are hoping for a quick hearing to gain continued access to the cash flow from operations, but no date has currently been set.

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