Connecticut's two federally recognized tribes are having problems paying debt they owe on their mega-casinos, The Norwich Bulletin reports.
The Mashantucket Pequot Tribal Nation, owner of Foxwoods Resort Casino and MGM Grand at Foxwoods, are already in talks to restructure more than $1 billion in debt.
Now the Mohegan Tribe, owner of Mohegan Sun, is looking to do the same on its debt.
“We’ll have difficulty making those payments on the $150 million, so we are considering debt restructuring,” chief financial officer Leo Chupaska, told the Bulletin. “We are studying what we can do to take care of the issue.”
The tribes have seen slot machine revenues drop considerably over the past year.
Get the Story:
Mashantuckets, Mohegans lack flexibility when dealing with debts
(The Norwich Bulletin 10/12)
Connecticut
Connecticut tribes facing casino debt woes
Monday, October 12, 2009
Stay Connected
Contact Us
indianz@indianz.com202 630 8439 (THEZ)
Search
Top Indian Gaming Stories
Trending in Gaming
1 Catawba Nation continues work on controversial casino in North Carolina
2 Cheyenne and Arapaho Tribes move forward with casino expansion
3 Poarch Band of Creek Indians said to be on Trump's radar
4 Hopi Tribe officially joins Indian gaming industry with approved compact
5 Seminole Tribe paid just $50M for casino Donald Trump built for $1.2B
2 Cheyenne and Arapaho Tribes move forward with casino expansion
3 Poarch Band of Creek Indians said to be on Trump's radar
4 Hopi Tribe officially joins Indian gaming industry with approved compact
5 Seminole Tribe paid just $50M for casino Donald Trump built for $1.2B
More Stories
• Chickasaw woman named to NIGC position• Opinion: Rolling the dice on Alabama bingo
Indian Gaming Archive