Chukchansi Tribe restructures $310M in debts incurred by casino

The Picayune Rancheria of the Chukchansi Indians of California restructured $310 million in gaming-related debt, The Fresno Bee reports.

The tribe incurred the debt during the construction of the Chukchansi Gold Resort and Casino. More than $300 million in loans were due this year but the tribe negotiated a new payment schedule and interest rate.

"It was unrealistic that the tribe would come up with $310 million by October," attorney Rob Rosette told the paper. "The tribe got restructured financing on an otherwise nonfinanceable project."

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Chukchansi restructures $310m debt (The Fresno Bee 7/11)