MESQUITE, Nev.--(BUSINESS WIRE)--In a company prepared statement, Black Gaming, LLC Chief Executive Officer Robert R. “Randy” Black, Sr. said, “In the past two years the Company and I have had to make some difficult decisions to stay afloat, including facility closures, layoffs and bankruptcy, and today is no exception. Faced with the prospect of a down economy, entering our seasonally slow summer months and working through our bankruptcy commitments to cut expenses as outlined in our lockup agreement, we must further reduce overhead.
“The economy is not rebounding, forcing my senior staff and I to explore opportunities to cut expenses to keep pace with the economy, with layoffs being the last resort. Unfortunately it is necessary to implement a combination of realignment of duties, through collapsing of departmental structures and drastic overhead reduction efforts, intent on minimizing the otherwise further required human impact.
“Cost savings will be achieved, most significantly, through the demolition of parts of the Oasis facility that are non-operational, including the casino and part of the hotel. Timeshare buildings will not be impacted by these efforts. Savings associated with this project will allow the Company to better align its revenue with its operational overhead and reduce the need for more drastic headcount reductions.
“The Oasis will be missed but, in light of market trends, it is the best option for the Company, community and our 1,700 employees. We are optimistic about the long-term prospects of Mesquite and look forward to more stable times ahead.”
About Black Gaming
Black Gaming, LLC, headquartered in Mesquite, Nevada, is a holding company and is an owner and operator of three gaming entertainment properties located in Mesquite, Nev.
The information in this press release contains “forward-looking statements” within the meaning of U.S. federal securities laws. The forward-looking statements, including, without limitation, statements regarding the Company’s expectations concerning the demolition of the Oasis facility, are subject to risks, uncertainties and Bankruptcy Court and regulatory approval. The Company’s actual results could differ materially from those expressed in its forward-looking statements as a result of these risks and uncertainties, including, without limitation, the impact of today’s announcement on the Company’s operations, failure to obtain necessary Bankruptcy Court or gaming authority approvals and other economic factors. The Company does not undertake, and specifically disclaims, any obligation to revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date such forward-looking statements are made.