Race track owner files for bankruptcy

Indiana-based gaming company Centaur filed for bankruptcy on Sunday, according to a company announcement. The chapter 11 filing in Delaware, where the privately owned company lists its debts as being more than $500 million, follows an October restructuring which resulted in two of its operating companies filing for bankruptcy.

Centaur’s first and second lien loans are owned by around 5% of US CLOs, according to Creditflux’s CLO Master. However, the bankruptcy filing will have no impact on these deals since almost all have treated the loans as being in default since late last year.