Don Barden, who operates the Majestic Star riverboat casino in Indiana, is slated to purchase the three Fitzgeralds Casinos across the country.
The Fitzgeralds sites in Las Vegas, Tunica, Mississippi and Black Hawk, Colorado are all expected to be turned over to Barden during a press conference slated for Friday at 1 p.m.
"While this has been a long process, the most exciting part is just ahead of us," said Bill Noonan, who will remain as vice president and general manager of Fitzgeralds in Las Vegas. "We are no longer a stock stuck in neutral."
The sale allows Fitzgeralds Casino & Hotel to emerge from Chapter 11 bankruptcy filed in December of 2000.