The
Picayune Rancheria of the
Chukchansi Indians of California restructured $310 million in gaming-related debt,
The Fresno Bee reports.
The tribe incurred the debt during the construction of the
Chukchansi Gold
Resort and Casino.
More than $300 million in loans were due this year but the tribe negotiated a new payment schedule and interest rate.
"It was unrealistic that the tribe would come up with $310 million by October," attorney Rob Rosette told the paper. "The tribe got restructured financing on an otherwise nonfinanceable project."
Get the Story:
Chukchansi restructures $310m debt
(The Fresno Bee 7/11)
