GARY, Ind., Sept. 12 /PRNewswire/ -- Majestic Investor Holdings, LLC (the "Company") and Majestic Investor Capital Corp. ("Capital" and together with the Company, the "Issuer") today announced that it has extended the Consent Date of its Consent Solicitation relating to the Issuer's 11.653% Senior Secured Notes due 2007 (the "Notes") to 5:00 p.m., New York City time, on Tuesday, September 16, 2003. The Consent Solicitation is being conducted in conjunction with the Issuer's offer to purchase any and all of the outstanding Notes (the "Offer"), and originally was scheduled to expire at 5:00 p.m., New York City time, on Wednesday, September 10, 2003, and then was extended to 5:00 p.m., New York City time, on Friday, September 12, 2003. As of 5:00 p.m. New York City time on Friday, September 12, 2003, $30,692,000 of the aggregate outstanding principal amount of Notes had been tendered in the Offer and Consent Solicitation and not withdrawn.
The complete terms of the Offer and Consent Solicitation are described in the Issuer's Offer to Purchase and Consent Solicitation Statement dated August 26, 2003 and related Letter of Transmittal (the "Offer Documents"). Other than the extension of the Consent Date as described above, all other terms and conditions of the Offer and Consent Solicitation set forth in the Offer Documents remain unchanged.
This announcement is not an offer to purchase, a solicitation of an offer to purchase, or a solicitation of consents with respect to the Notes. The Offer and Consent Solicitation are made solely pursuant to the terms and subject to the conditions set forth in the Offer Documents. The Offer Documents should be read carefully before any decision is made with respect to the Offer and Consent Solicitation.
Forward-Looking Statements
This press release includes statements that constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbor provisions of those sections and the Private Securities Litigation Reform Act of 1995. Words such as "believes," "anticipates," "estimates," "plans," "intends," "expects," "will" or "could" used in our press releases and reports filed with the Securities and Exchange Commission are intended to identify forward-looking statements. All forward-looking statements involve risks and uncertainties. Although we believe our expectations are based upon reasonable assumptions within the bounds of our current knowledge of our business and operations, there can be no assurances that actual results will not materially differ from expected results. We caution that these and similar statements included in this press release and in previously filed periodic reports are further qualified by important factors that could cause actual results to differ materially from those in the forward-looking statements. Such factors include, without limitation: the availability and adequacy of our cash flow to meet our requirements; our substantial indebtedness, debt service requirements and liquidity constraints; changes or developments in laws, regulations or taxes in the gaming industry, including increases in or new taxes imposed on gaming revenues and gaming devices; economic, demographic, business and other conditions in our local and regional markets; increased competition in existing markets or the opening of new gaming jurisdictions; competition in the gaming industry, including the availability and success of alternative gaming venues and other entertainment attractions; actions taken or omitted to be taken by third parties, including our manager as well as legislative, regulatory, judicial and other governmental authorities; a decline in the public acceptance of gaming; changes in personnel or compensation, including federal minimum wage requirements, or loss and/or retirement of key employees; finding of unsuitability by regulatory authorities with respect to us or our officers or key employees; our failure to obtain, delays in obtaining or the loss of any licenses, permits or approvals, including gaming and liquor licenses, or the limitation, conditioning, suspension or revocation of any such licenses, permits or approvals, or our failure to obtain an unconditional renewal of any such licenses, permits or approvals on a timely basis; the loss of any of our casino facilities due to casualty, weather, mechanical failure or any extended or extraordinary maintenance or inspection that may be required; other adverse conditions, such as adverse economic conditions, changes in general customer confidence or spending, increased transportation costs, travel concerns or weather-related factors, that may adversely affect the economy in general and/or the casino industry in particular; significant increases in fuel or transportation prices; changes in our business strategy, capital improvements or development plans; the ability to fund capital improvements and development needs from existing operations and from new financing; adverse results of significant litigation matters; and factors relating to the current state of world affairs and any further acts of terrorism or any other destabilizing events in the United States or elsewhere.
For more information on these and other factors, see our most recently filed Form 10-K. We caution readers not to place undue reliance on forward- looking statements, which speak only as of the date hereof. All subsequent written and oral forward-looking statements attributable to us are expressly qualified in their entirety by the cautionary statements and factors that may affect future results contained throughout this press release. We undertake no obligation to publicly release any revisions to such forward-looking statements to reflect events or circumstances after the date hereof.
Source: Majestic Investor Holdings, LLC
CONTACT: Michael E. Kelly, Executive Vice President and Chief Operating
Officer, Majestic Investor Holdings, LLC, +1-702-388-2240
