The Federated Indians of
Graton Rancheria in California might add a hotel to its casino, according to Moody's Investor Service.
The tribe recently secured a $450 million bank facility for its Graton Resort and Casino. The deal would enable the tribe to spend up to $200 million on a hotel, according to Moody's.
"The decision as to whether Graton will build the hotel is expected to come later this year," Moody's said in a research note.
The tribe opened the casino in November 2013 and reportedly paid off a $200 million pre-development loan thanks to strong revenues.
Get the Story:
Moody's: Graton Economic Development's new $450 million bank facility is a credit positive
(Moody's 1/12)
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