The Mashantucket Pequot Tribal
Nation of Connecticut officially announced a restructuring of its gaming debt.
The tribe owed $2.2 billion through the operation and expansion of the Foxwoods Resort Casino. The deal brings the amount down to $1.7 billion.
“This is truly a milestone event for MPTN and Indian Country as a whole,”
Chairman Rodney Butler said in a press release. “The new capital structure not only allows Foxwoods to move forward as a stronger competitor, it also renews the financial stability of our entire tribal nation.”
The tribe ended gaming per capita payments as part of its turnaround effort.
Get the Story:
Foxwoods Owner Closes On $2.3B Debt Restructuring (The Hartford Courant 7/2)
Mashantuckets reach deal on debt restructuring (The New London Day 7/2)
Foxwoods casino closes on $2.3 billion debt (AP 7/1) Related Stories:
Mashantucket Tribe warns of slight decline in casino revenue (7/1)
Foxwoods Owner Closes On $2.3B Debt Restructuring (The Hartford Courant 7/2)
Mashantuckets reach deal on debt restructuring (The New London Day 7/2)
Foxwoods casino closes on $2.3 billion debt (AP 7/1) Related Stories:
Mashantucket Tribe warns of slight decline in casino revenue (7/1)
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