Indian Gaming > Lac du Flambeau Band to mortage land for debts

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February 15, 2008

Lac du Flambeau Band to mortage land for debts

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The Lac du Flambeau Band of Lake Superior Chippewa is will mortgage fee lands to pay off $50 million in gaming debts after members of the Wisconsin tribe approved a referendum on Thursday.

The tribe will use the land to obtain a line of credit. Proceeds will be used refinance a $22 million debt on the Lake of the Torches Resort Casino while another $28 million would go to complete a riverboat in Mississippi.

The vote was 429 to 267.

Get the Story:
LDF Referendum Results (WJFW 2/14)

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