Indian Gaming > Editorial: Mashantucket casino debt deal is good for the region

Editorial: Mashantucket casino debt deal is good for the region

Tuesday, August 7, 2012
Filed Under: Connecticut | Opinion

"The $2.2 billion debt-restructuring agreement announced by the Mashantucket Pequots last week is good news not just for its Foxwoods Resort Casino but also for the region and the state, which depend on the facility as an employer of thousands of workers and as a provider of millions of dollars in revenues every year.

While it may be tempting to fault the Mashantuckets for having run up such a huge debt in the course of operating the world's largest casino, the deal represents a significant improvement in fiscal prudence by tribal leaders.

In the past the tribe did not endear itself to bondholders and other lenders by continuing to make generous monthly distributions of casino profits to members even while it faced default in 2009."

Get the Story:
Editorial: A good deal for the tribe and the region (The New London Day 8/7)