Mashantucket Tribe secures extension on casino debt

Thursday, January 21, 2010  

The Mashantucket Pequot Tribal Nation of Connecticut reached an agreement to extend negotiations with its lenders over $2 billion in gaming-related debt.

A forbearance agreement was due to expire yesterday. The new deadline is April 30, giving the tribe more time to restructure its debt.

The tribe owns and operates Foxwoods Resort Casino and MGM Grand at Foxwoods. Revenues have fallen over the last year amid the national recession.

Get the Story:
Mashantuckets, lenders reach agreement to extend forbearance agreement (The Norwich Bulletin 1/21)
Lenders give Mashantucket tribe more time (The New London Day 1/21)