The Quechan Nation has poured $4.2 million of its own funds into a casino expansion project to avoid a financial meltdown. The tribe is undertaking a $125 million expansion of the Quechan Casino Resort near Yuma, Arizona. But a downgrade of bonds being used to finance the project put the tribe $25 million short of completing work and defaulting on a loan, according to Fitch Ratings. President Mike Jackson said the tribe used it own funds to cover $4.2 million of the $25 million shortfall. The tribe is looking for other financing, he said. Get the Story:
Quechan resort in danger of loan default (The Yuma Sun 10/8)