Blacks say their liabilities are nearly $49 million
Commercial real estate investor and casino operator Robert "Randy" Black Sr. and his wife, Kathy, list $2.6 million in assets against liabilities of $48.8 million in financial statements filed with their ongoing Chapter 7 bankruptcy liquidation.
They claim exemptions of $1.1 million, which would allow $1.5 million for debt repayment.
Almost all of the assets comprise either the couple's Las Vegas home or nearly 40 separate business interests. The most valuable is half-ownership of Beano's Casino, a locals place at 7200 W. Lake Mead Blvd, while his 10 percent stake in Mesquite Gaming LLC, which controls three hotel and casino properties in Mesquite, is listed as having no value.
The largest debt is a $15 million loan from South Point casino owner Michael Gaughan that Randy Black used to purchase 98 percent ownership in Black Gaming LLC, which went into Chapter 11 bankruptcy protection in 2010 ..
Contact reporter Tim O'Reiley at toreiley@reviewjournal.com or 702-387-5290.
