California
Pauma Band closes $66M in financing for gaming operation
Monday, February 27, 2012
The Pauma Band of Luiseño Indians has closed on $66 million in financing, a move that benefits its gaming operation.
The tribe will use the money to refinance existing debt. Upgrades are also in the works for the Casino Pauma.
“We see this as a great opportunity to enhance the environment for our existing casino customers and attract new customers, all while achieving our goal of reducing debt. Going forward we believe this is a critical step to improve the lives of our people, our employees, and allows us to take advantage of favorable financing terms,” Chairman, Randall Majel said today.
The tribe negotiated the deal with the help of Tribal Financial Advisors. Legal services were provided by Kewenvoyouma Law.
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