Don Barden is moving ahead with plans to combine his two Majestic Star casinos in Gary onto a single vessel, freeing up a gaming license, officials of Barden's casino company said Wednesday.
Questions remained over financing the move, and whether state law will accommodate it.
"(Barden) is actively pursuing," an expanded casino on a single gaming vessel in Gary and the potential of moving a freed license to another jurisdiction, Kirk Saylor, chief operating officer of Barden's Majestic Star LLC, said in a conference call to report fourth-quarter earnings.
Saylor said Barden is talking with Gary city officials about the possibility and has told them a single, joint operation would benefit the city.
Timing of the move depends on state lawmakers, who were presented this week with legislation to prohibit moving gaming licenses from their current locations, Saylor said.
The casino company is "talking to legislators, people we believe support our initiative," Saylor said.
"We believe moving a gaming license would end up being a win-win situation for everybody," Saylor said. "Hopefully over time people will realize the potential."
Saylor said he can't estimate when the company could move the casino license, "if we can at all."
Barden has operated Majestic Star casino in Gary for more than a decade and in late 2005 acquired the former Trump casino, Majestic Star's Buffington Harbor dock-mate, giving his casino company both gaming licenses in Gary.
Barden told The Times last month he is evaluating moving a license to an undisclosed spot on Interstate 80. "But that is all in the future," Barden said at the time.
Gary Mayor Rudy Clay has said he intends on having both gaming licenses stay in Gary.
Barden is being assisted by a Fortune 500 company in planning improvements to Buffington Harbor, Majestic Star LLC officials said Wednesday.
Barden had pledged improvements, including a hotel, condominiums and a medical center when seeking state approval to acquire the former Trump casino, since renamed Majestic Star II.
Company officials wouldn't say when the improvements will be made.
With the land-based Four Winds casino opening later this year in New Buffalo, Mich., and an expanded Horseshoe casino in Hammond set to open next year, "We understand the speed with which we need to move forward," Saylor said.
"We need to figure out how to pay for it as well," he added. The company is considering seeking investors to help finance the improvements, Saylor said.
Meanwhile, upgrades to the Majestic Star operation are under way, including new slot machines, improved dining facilities and changes in table-game play. A former sports bar is being converted to a private baccarat room, the company said.
The company reported net revenue of $82 million in the fourth quarter of 2006, a 21.9 percent increase from the same period in 2005.
Casino revenues rose by 18.7 percent to $85.5 million in the quarter. The 2005 acquisition of the former Trump casino in Gary contributed to the increases, the company said.