Navajo Nation sees $5M payout from growing gaming enterprise

Friday, June 29, 2012  

The Navajo Nation is seeing strong returns on its gaming business, officials said.

The tribe opened its first casino in November 2008. Since then, two more have opened and a fourth is under construction.

The tribe took out four loans to build the casinos. But thanks to a restructuring with more favorable terms, the Navajo Nation Gaming Enterprise was able to make a $5 million payout into the tribe's distribution fund.

"We are still paying back the loans, but this is the first payment we've been able to give back into the distribution fund," Phefelia Bradley, the gaming enterprise's government affairs manager, told The Farmington Daily Times.

The money will likely be distributed to chapter governments across the reservation.

Get the Story:
Navajo Nation to accept first gaming check (The Farmington Daily Times 6/29)