Tinian Dynasty owner files for bankruptcy

Hong Kong Entertainment (Overseas) Investments Ltd, the owner of Tinian Dynasty Hotel & Casino, filed on Friday in federal court a Chapter 11 bankruptcy petition, local media reports.

Chapter 11 allows a debtor (Hong Kong Entertainment) to enter into an agreement with creditors under which all or a part of the business continues.

The filing of the bankruptcy petition came a day after Tinian Casino Gaming and Control Commission executive director Lucy Blanco-Maratita confirmed the re-opening of the casino tomorrow on Tuesday, Dec. 15.