NIGC provided input on Mashantucket Tribe casino debt deal

Monday, July 22, 2013  

The National Indian Gaming Commission was asked for input as the Mashantucket Pequot Tribal Nation of Connecticut negotiated a gaming debt deal, The American Lawyer reported.

The tribe reached a deal to reduce $2.2 billion in debt to $1.7 billion. One provision -- to give a share of future gaming revenue to creditors -- was sent to NIGC for review.

NIGC determined that the provision did not constitute a management contract sometime in late 2012, according to the report. That paved the way for the deal that was finalized on July 1.

"It's the first time we've done something like that," Andrew Yoon, whose law firm Weil, Gotshal & Manges managed the deal, told the American Lawyer of the future revenue provision.

Get the Story:
How Weil Helped Strike Landmark Indian Gaming Debt Deal (The American Lawyer 7/19)

Mashantucket Tribe hails 'milestone' with deal on gaming debt (07/02)