Mashantucket Tribe continues talks to restructure gaming debt
Friday, July 2, 2010
The Mashantucket Pequot Tribal Nation of Connecticut continues to negotiate with its lenders over $1.3 billion in gaming debt.
The tribe has been unable to make payments on the debt since last fall. A $700 million revolving credit is due July 13 so talks have taken on a new urgency, The Wall Street Journal reports.
Revenues at Foxwoods Resort Casino and MGM Grand at Foxwoods have fallen consistently over the past year.
EDITORIAL FOOTNOTE: Article taken from indianz.com/
Could this happen to the Mohegan Tribe also? How will this affect tribal members? Will tribal members suffer because of the poor judgement of the Mohegan Tribal Council? What do you think?