When unveiled, the privately held Windsor crowed about plans for another hotel, spa, and possibly even a second casino. Ten months later, the company reports that it isn't getting enough revenues to cover its huge, publicly traded debt.
The company, which posted a net loss of $7.3 million on $33.3 million in gaming revenues in the first six months of the year, also is behind on payments for $7.3 million held by Hyatt Gaming Management, which operates the casino with more than 1,20 slot and video machines. It also sells Krispy Kreme Donuts and has a Wolfgang Puck Express restaurant and a Starbucks.
The company still has $6.8 million in cash and $125 million in long-term debt.
The company is working with bondholders to restructure its debt.
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