Business Deals
Navajo president pushes for gaming loan

Navajo Nation President Joe Shirley Jr. urged the Navajo Nation Council to approve a $100 million line of credit to finance the tribe's gaming operation.

Shirley said conditions for a loan are favorable right now. Further delays could risk the tribe's gaming plans, he told council delegates during his annual State of the Navajo Nation address.

"Right now, interest rates are very favorable to the Nation, but obviously, the longer we delay the more we run the risk that the rates will increase to the detriment of the Nation," he said.

The council has weighed the issue twice but has not made a decision.

Get the Story:
Shirley urges importance of gaming, credit line in State of the Nation address (The Farmington Daily Times 10/16)