From a LVSun article updated this afternoon:
Penn National acquired the debt and has the right to take ownership.
Also says that Marnell "said he's prepared to invest more of his own money into the M for a chance to continue running the property."
Full article: http://www.lasvegassun.com/news/2010/oct/08/penn-national-buys-debt-of-m-resort-in-las-vegas/
···
--- In vpFREE@yahoogroups.com, Tom Robertson <madameguyon@...> wrote:
Was the hotel-casino purchased or was its debt purchased?