The Foxwoods Resort Casino in Connecticut. Photo from Facebook
The Mashantucket Pequot Tribal Nation of Connecticut has eliminated per capita distributions and missed debt payments as gaming revenues continue to suffer. After the Foxwoods Resort Casino opened in 1992, tribal members received $750,000 a year, The New York Times reported. As the rolls grew, the payments fell to about $100,000 a year. But now, tribal members don't receive anything. “There was a lot of frustration, anger and fear when the payments stopped, especially if you’ve built your life with that kind of freedom,” Dale Merrill told the paper. The financial struggles extend to the outside world. The tribe owes about $1.7 billion to its creditors and recently failed to make a payment on its debt even after reaching a deal last year with some lenders. “We’ve been on this land for thousands of years and we’ll be here,” Chairman Rodney A. Butler told the paper. “Economic success is different from tribal success.” The tribe hopes to turn around the situation by emphasizing non-gaming aspects of the casino. The tribe is also looking for ways to diversify its economy beyond gaming. Get the Story:
A Connecticut Indian Tribe Faces Its Eroding Fortunes (The New York Times 12/1)
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