Indian Gaming > Red Lake Nation retires $27M debt for casinos

January 28, 2008

Red Lake Nation retires $27M debt for casinos

The Red Lake Nation of Minnesota has paid off a $27 million loan used to expand two casinos.

The tribe retired the debt in seven years. “It’s been a rough road, but we made it,” Charles Prentice, the chief operating officer for Red Lake Gaming Enterprises, said at a ceremonial note burning ceremony on Friday, The Bemidji Pioneer reported.

The money was used to expand the Seven Clans Casino in Thief River Falls and the Seven Clans Casino in Warroad.

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Red Lake retires $27 million loan package for two casinos (The Bemidji Pioneer 1/26)
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