Grand Station foreclosure delayed as Bally doesn’t show
Published 11:23 am Wednesday, April 18, 2012
A second foreclosure sale involving Bally Gaming Inc. and Grand Station Casino apparently has been postponed for the second time since March.
A trustee for Bally was a no-show at the courthouse Tuesday, according to the Chancery Clerk’s Office. A sale of assets related to a $3 million loan the casino sought to pay for future improvements was scheduled.
Jackson attorney Donald Windham, listed in legal ads as the trustee of the deed, did not return calls Tuesday. Trustees conduct foreclosure sales when they are carried through.
The casino closed March 28 and laid off 230 workers after owners failed to reach a settlement with Bally over the debt. Delta Investments and Development holds the license to operate the casino unless and until it receives an offer to buy out the remaining debt.
In March, New Orleans real estate developer Kenneth W. Bickford announced a deal to purchase the casino’s adjacent hotel. Terms were not disclosed. Bickford plans to convert the hotel into a luxury condo and marina resort.