Santa Ysabel Band shutters casino due to financial problems

Closed for business. A message on the Santa Ysabel Casino website.

The Santa Ysabel Band of Mission Indians in California closed its gaming facility on Monday, citing financial woes.

The tribe opened the Santa Ysabel Casino in 2007. The facility failed to meet expectations and owed millions of dollars in debt to Yavapai-Apache Nation of Arizona despite an attempt to declare bankruptcy in federal court.

“The casino never fully realized its full potential, and confronted by an intransigent county government unwilling to renegotiate its financial agreement with the tribe in the face of economic hardship, was forced to seek bankruptcy protection,” Chairman Virgil Perez said in a press release, The San Diego Union-Tribune reported. “The bankruptcy request was denied by the court and the casino did what it could to remain solvent.”

The tribe also failed to make payments to San Diego County under a revenue sharing agreement. The tribe owes more than $3 million, a county attorney said.

The closure of the facility put 115 people out of work.

Get the Story:
Santa Ysabel Casino goes out of business (The San Diego Union-Tribune 2/4)
Santa Ysabel Casino Closes Its Doors (NBC 2/3)

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