The company said today it has filed Chapter 11 bankruptcy reorganization but plans to continue in business. No employees will lose their jobs, a spokesman for Legends Gaming said.

Legends said it is in the middle of what it called a contract dispute with lenders. The spokesman said Legends hopes a bankruptcy court judge can resolve the contract issue.

The lender wants to renogiate a loan agreement that was based on revenue projections made before Legends bought DiamondJacks. Renovations to the casino have taken longer than expected, affecting its amount of business, the company said.

"This reorganization is not a result of a liquidity issue but rather the company's inability to meet certain leverage ratios in the covenants of its loan agreements," a statement from the company said.

A $16 million renovations plan for Legends' Bossier City and Vicksburg, Miss., casinos is still planned, the spokesman said.

DiamondJacks took over the Isle of Capri in Bossier City in August 2006.