I don't think the gov't cares about the tax revenues so bankruptcy is always a possibility (that's why MO trades at a huge discount to the market). But the "tobacco wars" have always been a secret "game" between the parties involved and we outsiders will never know (if you ever found out they would have to kill you).
Suffice to say that barring an Illinois Price case scenario, (read below for an interesting aside) the worst case "doomsday" will be a few years away. Appeals take forever.
The aside part...Price case...from what I have read, the original lead plaintiff was Miles and was interviewed on camera on the court house steps (Madison County Illinois) during the trial, smoking a Marlboro light and actually told the camera that she smoked them because she liked the taste, not that she thought they were better for her...from what I read, lead counsel (Tillery) went ape-s**t, hence "Miles" became "Price".