The company was formed on December 8, 1993. It opened the
Majestic Star Casino in
Gary, Indiana on June 7, 1996. In December 2001, Majestic Star made its first expansion beyond Gary, acquiring three Fitzgeralds casinos from bankrupt
Fitzgeralds Gaming for $149 million, in Las Vegas, Nevada,
Black Hawk, Colorado, and
Tunica, Mississippi. Chief operating officer Michael Kelly, a former Fitzgeralds executive, engineered the deal. In April 2005, Majestic Star was selected to operate the casino at the
French Lick Resort in
French Lick, Indiana, being developed by a partnership of Lauth Property Group and the
Cook Group. However, the Cook-Lauth partnership eventually decided to form its own casino management team, and Majestic's involvement ended amiably in September of that year. In December 2005, Majestic Star acquired the neighboring
Trump Casino in Gary from
Trump Entertainment Resorts for $253 million, and renamed it as the Majestic Star II. After Barden led an effort to legalize gambling in
Pennsylvania, Majestic Star was awarded the only gaming license for
Pittsburgh, beating out competing bids from
Harrah's and
Isle of Capri. Construction began in December 2007 on the $450 million riverfront Majestic Star Casino, which was projected to double the company's yearly revenues to over $1 billion. Barden kept his remaining stake in the project outside of the Majestic Star umbrella. The company cited the recession, increased competition from nearby properties, and a new smoking ban as reasons. In December 2010, Majestic sued Barden, claiming that he changed the company's tax status without notice, costing over $2 million in additional tax liabilities. The company's reorganization plan, filed the following month, would end Barden's ownership interest, while leaving other executives in place. The company left bankruptcy in 2011 under the majority ownership of Wayzata Investment Partners. In October 2011, several months after Barden's death, his estate sold Fitzgeralds Las Vegas to brothers Derek and Greg Stevens, majority owners of the
Golden Gate casino. In May 2012, Majestic Star agreed to sell Fitzgeralds Black Hawk for $28 million to Saratoga Harness Racing, owner of
Saratoga Casino and Raceway in New York. The sale closed in January 2013. Majestic Star sold Fitzgeralds Tunica to Foundation Gaming in August 2018. In November 2018, the company agreed to be acquired by Spectacle Entertainment, a new firm owned primarily by two Indiana-based investors. The buyers said they would lobby for permission to move the Majestic Star Casino inland within Gary, and to move the Majestic Star II's casino license to another city in Indiana. ==Properties==