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BLACK HAWK, CO-As expected, the Texas owner of the largest casino in Colorado, the Black Hawk Casino by Hyatt, has filed for bankruptcy in US federal court in Denver. Windsor Woodmont filed for Chapter 11 reorganization under federal bankruptcy law after it missed its first interest payment on a $100 million loan.

A receiver already has been appointed to protect the assets.

“Windsor intends to use the Chapter 11 process to reorganize its financial and operational affairs with the goal of preserving and enhancing the assets of the company for the benefits of the creditors and shareholders,” says Windsor chairman Jerry Dauderman. “We fully expect the casino to operate as usual, our valued employees to be retained, and for our post-bankruptcy obligations to be satisfied.”

The $150-million casino opened last December. Future plans call for another casino, a convention center, and a park on the land.

The casino is suffering from a post-Sept. 11 downturn and a statewide recession. Black Hawk is about a 40-minute drive west of Denver.

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