Magazine article Black Enterprise

Barden Takes Helm of Former Trump Riverboat; Bankrupt Property in Store for a Major Makeover

Magazine article Black Enterprise

Barden Takes Helm of Former Trump Riverboat; Bankrupt Property in Store for a Major Makeover

Article excerpt

Don H. Barden, CEO of Barden Cos. Inc. (No. 8 on the be industrual/service 100 list with $372 million in sales) and the first African American to own a Las Vegas casino, expanded his portfolio recently by acquiring a riverboat casino and hotel in Gary, Indiana, from Donald Trump for $253 million.

Through subsidiary The Majestic Star Casino L.L.C., Barden announced that the 300-room hotel and casino, formerly called Trump Indiana, will now be called The Majestic Star II.

Barden projects that the company generated some $500 million by the end of 2005 as a result of the acquisition. He says the deal moves the company from the seventh-largest revenue generating casino in the state of Indiana to one of the top four.

The Majestic Star II sits adjacent to the original Majestic Star Casino, giving Barden no shortage of prime gaming property. "We now control over 300 acres of land [there], which creates an extraordinary development opportunity," said Barden in a statement. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.