The Mashantucket Pequot Tribal Nation of Connecticut is in "dire financial times," Chairman Michael Thomas said in a letter to members.

But Thomas said the tribe won't be making further cuts in tribal employment or further reducing "incentive" payments to members. Some employees were eliminated and the per capita payments were cut in half.

”Instead, Tribal Government and the Incentive will now be paid FIRST with any cuts or changes to our operation taking place after our members are paid,” Thomas wrote in the letter, The New London Day reported. “I will not waver from my pledge to protect the Tribal Government and the Incentive.”

The tribe wants to restructure $2.3 billion in debt, mainly incurred from its gaming operation. Revenues have taken a big hit over the past year.

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'Dire Times' Push Tribe Near Default (The New London Day 8/26)