Indian Gaming > Pequot chairman on leave pending internal review

September 2, 2009

Pequot chairman on leave pending internal review

The leader of the Mashantucket Pequot Tribal Nation of Connecticut has been placed on administrative leave pending an internal review.

The tribal council did not say what they would be reviewing. But Chairman Michael J. Thomas has been at the center of media attention over the past week for telling members about “dire financial times” for the tribe.

“As a matter of policy, the council does not discuss personnel matters and does not intend to comment further,” the tribal council said in a statement, The Norwich Bulletin reported.

The tribe owns Foxwoods Resort Casino and MGM Grand at Foxwoods. Revenues at the facilities have dropped over the past year amid the national recession.

The tribe has hired an investment bank and a law firm to renegotiate at least $1.45 billion in debt. The tribe made a loan interest payment on time on Tuesday, The New London Day reported.

Get the Story:
Mashantuckets place Thomas on leave (The Norwich Bulletin 9/2)
Tribe that owns Foxwoods relieves its chairman (The Philadelphia Inquirer 9/2)
Mashantuckets hold off default for now (The New London Day 9/2)