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Another Gambling Firm Files for Bankruptcy

Written by:

Jagajeet Chiba

Published on:

Apr/22/2009

Evergreen Gaming has filed for bankruptcy it was reported on Tuesday. The Canadian-based firm did so after it defaulted on a $29 million loan.

The company, which is based out of Vancouver, British Columbia, and has subsidiaries including Washington Gaming Inc. of Renton, Wash., sought protection simultaneously in bankruptcy courts in Vancouver and Seattle. The companies said they employ about 1,600 people.

Court papers show the Canadian court appointed Deloitte & Touche Inc. to monitor and help facilitate the restructuring.

Evergreen operates a gaming complex out of Canada and card rooms in Washington State.

An interesting irony to all of this is that these very same card rooms were thought to have applied pressure on the Washington State to pass legislation making online gambling a Class C Felony.

Jagajeet Chiba, Gambling911.com

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