ouch..any thoughts on impact on nlg?, page-4

Hey Finchy,

This is the bit that interests me;

"days later he agreed to settle a $15 million loan to National Leisure and Gaming for just $1.5 million".

Does this mean NLG paid him $1.5m to settle a debt they had to him, or did they accept $1.5m to settle a debt he had with them?

If the former, then surely thats good for NLG's debt position as they have gained $13.5m in real terms.If the latter, then bugger....

I am happy about the refinancing though, gives the company a chance to breath and re-invent itself.