Northern Nevada Casino Emerges from Chapter 11

Sharkey’s, a landmark Nevada, casino, navigated the tough times without any layoffs. Now it’s out of bankruptcy and planning a prosperous new year.

Holder: Happy to focus on the future

The landmark Sharkey’s Casino near Carson City, Nevada  has emerged from Chapter 11 bankruptcy after a reorganization plan was approved in federal court, reports the Gardnerville Record-Courier.

Casino owner Hal Holder said he is relieved to have the matter behind him. “All of us involved in the management of Sharkey’s are happy to now focus on moving our business forward. I’m singly focused on making Sharkey’s a better place and a more prosperous place,” Holder said.

Holder said he bought Sharkey’s on a handshake from former owner Milos “Sharkey” Begovich in January 2002. He paid $5 million, and owed $3.79 million when he filed for bankruptcy last April.

“No employee was released or had work hours reduced due to this filing,” Holder pointed out. “All vendors, suppliers and creditors will receive 100 cents on the dollar. Our capital improvements will move forward unabated. We will continue to develop and improve the Sharkey’s experience for our friends and customers.

He said the business “continued to improve during the eight months while operating in Chapter 11. We will have the best year this year since 2009.”