On October 14, 2015, Fresno’s Club One Casino filed for Chapter 11 bankruptcy protection citing the impact of litigation and increased competition. In bankruptcy papers filed with the court, Club One Casino listed $35.2 million of liabilities, including $24.3 million of secured claims owed to KMGI, Inc., a company owned by shareholders of Club One Casino’s parent company. Former shareholders of Club One Casino are included among the unsecured creditors.
Club One Casino President Kyle Kirkland commented, “Club One Casino has been in continuous operation for almost 20 years and will continue to operate throughout bankruptcy. Our goal is to complete this financial reorganization to the benefit of all our stakeholders and position ourselves for the future. This bankruptcy will not affect our employees, customers or the City of Fresno in any way. Our 20th anniversary celebration including a $75,000 guaranteed tournament scheduled for next month will go on as planned.”