Financial problems emerge at LV company

In a special meeting held in Las Vegas Thursday, Fitzgeralds' Board of Directors "determined that, pending a restructuring of its indebtedness, it would be in the best interest of the company not to make the regularly scheduled interest payments," on the notes. The next payment is scheduled for June 15.

Company executives will be available to discuss the issue during a regular quarterly conference call with note holders on Thursday, May 20.

Fitzgeralds says its liquidity and capital resources are sufficient to maintain its normal operations during the restructuring. The company said it "does not anticipate any adverse impact on its operations, customers or employees."

Fitzgeralds owns hotel-casinos in downtown Las Vegas, Reno; Tunica, Miss.; and Black Hawk, Colo.

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