The Mashantucket Pequot Tribal Nation of Connecticut officially announced a restructuring of its gaming debt.
The tribe owed $2.2 billion through the operation and expansion of the Foxwoods Resort Casino. The deal brings the amount down to $1.7 billion. “This is truly a milestone event for MPTN and Indian Country as a whole,” Chairman Rodney Butler said in a press release. “The new capital structure not only allows Foxwoods to move forward as a stronger competitor, it also renews the financial stability of our entire tribal nation.” The tribe ended gaming per capita payments as part of its turnaround effort. Get the Story: