The Graton Resort and Casino in California. Photo from Instagram
The Federated Indians of Graton Rancheria in California might add a hotel to its casino, according to Moody's Investor Service. The tribe recently secured a $450 million bank facility for its Graton Resort and Casino. The deal would enable the tribe to spend up to $200 million on a hotel, according to Moody's. "The decision as to whether Graton will build the hotel is expected to come later this year," Moody's said in a research note. The tribe opened the casino in November 2014 and reportedly paid off a $200 million pre-development loan thanks to strong revenues. Get the Story:
Moody's: Graton Economic Development's new $450 million bank facility is a credit positive (Moody's 1/12) Related Stories:
Opponents still trying to shut down Graton Rancheria's casino (11/18)
Leader of Graton Rancheria still upset with price of land for casino (09/05)
Graton Rancheria casino records $88.9M in net gaming revenue (08/13)
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