The Match-E-Be-Nash- She-Wish Band of Pottawatomi Indians of Michigan, also known as the Gun Lake Tribe, is negotiating a $160 million loan to complete work on its casino, The Detroit News reports.
The tribe has already spent $76.1 million on the Gun Lake Casino, due to open in February 2011.
The loan will be used to pour another $86.6 million into the project, a person familiar with the negotiations told the paper.
The remainder of the loan will be used to pay off an existing loan, maintain an interest reserve and pay off other fees and expenses, the paper said.
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Michigan casino needs $160M
(The Detroit News 6/17)
Business Deals | Casino Stalker
Gun Lake Tribe negotiates big loan to complete casino work
Thursday, June 17, 2010
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