Indian Gaming > Mashantucket Tribe in talks for $2B casino debt

October 27, 2009

Mashantucket Tribe in talks for $2B casino debt

The Mashantucket Pequot Tribal Nation of Connecticut continues to renegotiate more than $2 billion in casino debt.

The tribe entered into a forbearance agreement with its lenders. The agreement runs until January 20, 2010, giving the tribe more time to renegotiate debt without punitive action.

The tribe reportedly owes as much as $2.3 billion related to the financing of Foxwoods Resort Casino and MGM Grand at Foxwoods. Slot machine revenues have fallen over the past year as the economy fell into recession.

Get the Story:
Tribe secures extension on debt talks (The New London Day 10/27)
Foxwoods’ owners reach forbearance deal with lenders (The Boston Globe 10/27)
Foxwoods Receives Reprieve on Debt (The Hartford Courant 10/26)
Foxwoods Owner Reaches Debt Forebearance Agreement (The New York Times 10/26)