Graton Rancheria will take on $800M in debt for gaming project

The Federated Indians of Graton Rancheria in California will be taking on $800 million in debt as part of its long quest for a casino.

The tribe will use the money to build the casino, pay off existing debt and pay for other costs. Standard & Poor's gave the debt a “B” rating.

"We expect net revenue to be in the high $300 million area in 2014, ramping up to around $440 million in 2016. In our view, the property will likely generate gaming revenue that is substantially higher than most of its competitors in the Northern California Region (including both San Francisco and Sacramento), given its location advantage, size and amenities," S&P said yesterday.

The tribe began construction in late June. The casino is expected to open in late 2013.

Get the Story:
Tribe seeks $800M in Rohnert Park casino financing (The Santa Rosa Press-Democrat 8/8)
Rohnert Park casino opponents seek to block construction (The Las Vegas Review-Journal 8/8)

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Opponents of Graton Rancheria dispute old gaming agreement (8/8)