Mashpee Wampanoag Tribe borrows more in quest for casino

Tuesday, November 6, 2012  

The Mashpee Wampanoag Tribe of Massachusetts has borrowed another $13 million in its quest for a casino, according to news reports.

The tribe now owes nearly $40 million to its backer as bills for lawyers, lobbyists and consultants keep mounting. The loan documents include a waiver of sovereign immunity in federal and state court.

"We are fortunate that we have a financial partner that has confidence in our tribe and our inevitable right to conduct gaming as well as the ability to provide the funding necessary to achieve our economic development goals," Chairman Cedric Cromwell said in a statement.

Tribes elsewhere have racked up million of dollars in debt to finance their gaming plans.

Get the Story:
Tribe hits casino investors for $13M (The Cape Cod Times 11/6)
Mashpee Tribe Debt Mounts Into The Millions As Casino Pursuit Drags On (The Falmouth News 11/2)

Opinion: Mashpee Wampanaog Tribe casino bid in limbo again (11/5)