Chukchansi Tribe ordered to make payment on gaming debt

Friday, July 19, 2013
Filed Under: California | Litigation
More on: chukchansi, debt

The Chukchansi Gold Resort & Casino in Coarsegold, California. Photo © Picayune Rancheria of the Chukchansi Indians

The Picayune Rancheria of the Chukchansi Indians in California will make a full payment on its gaming debt after a judge in New York ordered the tribe to take action amid a leadership dispute.

The tribe missed a $12 million payment and one faction made a partial payment of $10 million. But when the full payment wasn't made by the end of the grace period, Wells Fargo & Co. went to court and secured an injunction to pay bondholders.

"We've been saying all along, we need to pay the bondholders or else the casino is going to close," an attorney for Wells Farg told The Deal, referring to the Chukchansi Gold Resort & Casino.

One faction has maintained control of the casino while another has control over the tribe's bank accounts.

Turtle Talk has posted documents from the case, Wells Fargo v. Chukchansi EDC.

Get the Story:
Chukchansi casino bondholders to get paid (The Deal 7/18)

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