Club One, a popular downtown Fresno, Calif., casino and restaurant, has filed for bankruptcy, the Fresno Bee reported today. The chapter 11 filing was made on Wednesday by its ownership group, led by Kyle Kirkland, Club One Casino Inc.’s president, who says that the lucrative casino will stay open and continue to pay fees it owes the city. The bankruptcy filing comes after a ruling last week in New York favoring two Fresno residents, former owner Elaine Long and minority owner George Sarantos, who are the casino’s biggest creditors after a 2008 sale. In total, Long and Sarantos are owed nearly $12 million combined, their lawyers said.
