Mohegan Tribe still working on a deal for $1.6B in gaming debt

The Mohegan Tribe of Connecticut is optimistic about renegotiating $1.6 billion in gaming debt, officials said.

Chairman Bruce “Two Dogs” Bozsum told The Norwich Bulletin that “good progress” has been made. And the CEO of the Mohegan Tribal Gaming Authority said lenders remain confident of a deal because they agreed not to place restrictions on a recent debt waiver.

"This waiver eliminated the possibility of them doing that," CEO Mitchell Etess told The New London Day. "We believe it demonstrates their confidence in the tribe and the authority."

The tribe was unable to refinance its debt by December 31. A $675 million line of credit is due in March and another $250 million in bonds matures in April, The Day reported.

Get the Story:
Banks showing flexibility on Mohegan debt, analyst says (The Norwich Bulletin 1/5)
Mohegan gaming mum on refinancing (The New London Day 1/5)