Aladdin still in talks on debt
By the end of today, the Aladdin resort on the Las Vegas Strip could be in default on $700 million in debt. It could also be saved from bankruptcy until at least September 2002. But, as of this morning, there wasn't any word on which fate the $1.2 billion resort faces. In a quarterly report filed two weeks ago, the Aladdin said it had negotiated a key amendment to its credit agreements with its lead banker, the Bank of Nova Scotia. The agreement would defer principal payments on the Aladdin's bank debt until next September, lowering the Aladdin's debt payments by nearly $18 million over this period . sbobet That would likely be enough to keep the property solvent for at least another year. But the Aladdin didn't have the approval of all of its lenders at that time. And it still doesn't, an Aladdin spokesman said today. "We're in ongoing discussions with all interested parties," said Aladdin spokesman Lynn Holt. These part...