The Chukchansi Gold Resort & Casino in Coarsegold, California. Photo © Picayune Rancheria of the Chukchansi Indians.
The Picayune Rancheria of the Chukchansi Indians of California made a partial payment on its casino debt amid a leadership dispute, The Fresno Bee reports. The tribe missed a $12 million payment on April 1, triggering a 30-day grace period before going into default. One faction of the tribe was able to make a $10 million payment on the debt. "The tribal council is working with Rabobank and the bondholders to coordinate the balance of the payments," a spokesperson for the faction told the Bee. The tribe owes a total of $300 million to bondholders, the paper said. At least three groups claim to be in control of the tribe. Get the Story:
Chukchansi financial crisis averted with partial payment (The Fresno Bee 4/18) Related Stories:
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