Indian Gaming > Santa Ysabel Band seeks federal bankruptcy protection at casino

Santa Ysabel Band seeks federal bankruptcy protection at casino

Thursday, July 5, 2012
Filed Under: California

The Santa Ysabel Band of Mission Indians is seeking federal bankruptcy protection for its troubled casino.

The tribe owes money to 50 creditors, Fox 5 News reported, including $3 million to San Diego County and $100,000 to the California Gambling Control Commission.

"This proactive step enables us to protect the jobs of our employees, which are vital not only to them and their families but the local economy as well," David Chelette, the general manager at the Santa Ysabel Casino, said in a statement, The North County Times reported.

Revenues at the casino have been lower than expected and the tribe was unable to pay the county about $600,000 a year under a gaming agreement. A mediator ordered the tribe to pay the money.

Get the Story:
Casino files for bankruptcy protection, tribe says (The North County Times 7/4)
Santa Ysabel Casino files for bankruptcy (Fox 5 San Diego 7/4)