Soo Tribe in turmoil as casino files for bankruptcy

Monday, June 2, 2008

News of a Chapter 11 bankruptcy filing by the Sault Ste. Marie Tribe of Chippewa Indians deepened tensions within the Michigan tribe.

The tribe has a majority stake in the Greektown Casino in Detroit. Facing pressure from the state, the casino filed for bankruptcy protections in hopes of raising $140 million to complete a permanent facility.

The casino has been a sore spot within the tribe. Chairman Aaron Payment was removed from the Greektown board of directors for allegedly missing too many meetings.

The tribe itself faces some financial questions. A recent financial report anticipated $18 million in gaming revenues but $33 million in expenses.

Get the Story:
Casino woes deepen tribe's turmoil (The Detroit Free Press 5/31)
Greektown Casino files for bankruptcy (The Detroit News 5/31)