[5][6][7] Also in December 1986, the company expanded into Southern Nevada, taking over management of the Sundance casino in Downtown Las Vegas for its owner, Moe Dalitz.
[18] In 1993, the company made a bid for the last available gaming license in the Kansas City area, proposing a $145 million casino in Sugar Creek, Missouri.
Station was later investigated for improper contact with the president of the gaming commission, and Fitzgeralds sued and received a $38 million settlement in 2004.
[20] In 1994, Lincoln Management was reorganized as Fitzgeralds Gaming Corp. in preparation for a potential initial public offering.
[29][30] The Nevada Club was closed in December 1997, and six months later was sold to the neighboring Harrah's Reno for $3.8 million.
[34] A deal was ultimately reached for the company to sell three of its casinos (Las Vegas, Tunica, and Black Hawk) to Indiana-based Majestic Star Casino for $149 million, and for bondholders to forgive much of the company's remaining $205 million in public debt.
[37] No buyer was readily found, because of concerns about competition from Northern California Indian casinos and disruption from a railroad construction project next to the property.
[38] In 2003, the casino was taken off the market, and ownership of Fitzgeralds Gaming was transferred to its creditors, a group of institutional lenders.