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October 27, 2009Mashantucket Tribe in talks for $2B casino debtThe Mashantucket Pequot Tribal Nation of Connecticut continues to renegotiate more than $2 billion in casino debt. The tribe entered into a forbearance agreement with its lenders. The agreement runs until January 20, 2010, giving the tribe more time to...October 26, 2009Connecticut tribes share revenues with membersConnecticut's two federally recognized tribes share up to 50 percent of gaming revenues with their members The Mohegan Tribe, owners of Mohegan Sun, dedicates 40 to 50 percent for per capita payments. The Mashantucket Pequot Tribal Nation, owners of Foxwoods...October 20, 2009Mashantucket Tribe faces deadlines on casinoThe Mashantucket Pequot Tribal Nation of Connecticut is up against some big deadlines as it seeks to build a commercial casino in Philadelphia, Pennsylvania. The tribe and its partners have until December 1 to tell the Pennsylvania Gaming Control Board...October 19, 2009Letter: Mashantucket empire nearing collapse"The fall of nations and empires often takes place over several generations. Sometimes, however, it's sudden and takes place virtually overnight. Are we on the verge of witnessing a collapse of Foxwoods Resort Casino? It appears on the brink of...October 16, 2009Connecticut tribes report drops in slot revenuesConnecticut's two federally recognized tribes reported another drop in their slot machine revenues for the month of September though one tribe didn't fare as poorly as the other. The Mohegan Tribe saw an 11.3 percent drop at Mohegan Sun, compared...October 15, 2009Mohegan Tribe seeks to restructure casino debtThe Mohegan Tribe of Connecticut is joining the Mashantucket Pequot Tribal Nation in seeking to restructure debt associated with its gaming enterprise. The tribe plans to restructure nearly $200 million in debt, The New London Day reported. The move came...October 13, 2009Column: New Mohegan chair faces challenges"There certainly have been better moments in recent history for Lynn Malerba to take over as the first female tribal chairwoman of the Mohegan tribe. After a stunning run beginning in 1996, gambling revenues are tanking. There are serious...October 12, 2009Connecticut tribes facing casino debt woesConnecticut's two federally recognized tribes are having problems paying debt they owe on their mega-casinos, The Norwich Bulletin reports. The Mashantucket Pequot Tribal Nation, owner of Foxwoods Resort Casino and MGM Grand at Foxwoods, are already in talks to restructure...Editorial: Indian gaming linked to economy"Two significant milestones are taking place within the Mohegan Tribe, owners of Mohegan Sun. Thirteen years ago this weekend, the tribe opened its casino on the banks of the Thames River in Montville. And last week, the tribe’s nine-member tribal...October 7, 2009New Mohegan chair tackles gaming issuesThe new leader of the Mohegan Tribe of Connecticut comes into office with some big gaming issues on her plate. Lynn Malerba, the first woman to serve as chair of the tribe, says the gaming industry remains "depressed." Slot...September 28, 2009Column: Drunk driving links to Mohegan casino"When I first saw a notice that Mohegan Sun is sponsoring a “Madd About Dancing” fundraiser this week for Mothers Against Drunk Driving, it was soon after the news broke that the woman accused of causing last Sunday's fatal car...September 25, 2009Mashantucket Tribe drops Pauma casino dealThe Mashantucket Pequot Tribal Nation of Connecticut withdrew from a casino deal in California due to economic concerns, a spokesperson said. The Pequots agreed to help the Pauma Band of Luiseño Indians with a $300 million casino. But they tribes...Editorial: The realities of gaming dependence"Lawmakers convinced that gambling revenues are an easy fix for busted state budgets may change their minds after reading a detailed, new report on the subject. Gambling is big business, but it turns out lotteries, casinos, racinos, and pari-mutuel wagering...September 21, 2009Mashantucket crisis affects tribal gaming sectorTribes that seek financing for casino projects could be adversely affected by the financial crisis facing the Mashantucket Pequot Tribal Nation of Connecticut. At least three tribes have missed interest payments on their casino debt. The Pequots haven't but the...September 17, 2009Connecticut tribes report dip in slot revenuesConnecticut's two federally-recognized tribes reported double-digit declines in slot machine revenue for the month of August. Compared to August 2008, the Mashantucket Pequot Tribal Nation saw a 13.3 percent decline at Foxwoods Resort Casino and MGM Grand at Foxwoods. The...September 15, 2009Connecticut tribes report double digit slot dropConnecticut's two federally recognized tribes reported double-digit drops in slot machine revenue last month. The Mashantucket Pequot Tribal Nation saw a 13.3 percent decline at Foxwoods Resort Casino and MGM Grand at Foxwoods. The Mohegan Tribe, meanwhile, saw a 11...Laid off Pequot casino employees look for jobsFormer gaming employees of the Mashantucket Pequot Tribal Nation are looking for new jobs with the help of the Eastern Connecticut Workforce Investment Board. The tribe laid off about 700 employees at Foxwoods Resort Casino last year. About 165 of...Case tests state liquor law at Mohegan casinoA case before the Connecticut Appellate Court could subject the Mohegan Tribe to certain state liquor laws. Emily Vanstaen-Holland and her mother, Susan Holland, sued the tribe after Emily was struck by a man who was drinking at Mohegan Sun....September 10, 2009Mashantucket Tribe defends sales tax at casinoThe Mashantucket Pequot Tribal Nation is rejecting criticism of a sales tax being imposed at its casino. In January, the tribe authorized a 1 percent tax on the sale of merchandise at Foxwoods Resort Casino and MGM Grand at Foxwoods....September 8, 2009Column: Mashantucket Tribe addicted to money"The world's wealthiest Indian tribe suddenly can't pay its bills. But you wouldn't know it from the 800 or so members of the Mashantucket Pequot Tribal Nation, who can't give up the gambling money and their regular "per capita" cash...September 7, 2009Editorial: Mashantucket Tribe a victim of success"The next chapter of the rags-to-riches story of the Mashantucket Pequot Tribe - the precipitous fall from near the top of the gaming world's pinnacle - won't be written for months, if not years, to come. But when it is,...September 4, 2009Mashantucket Tribe's tax at casino under reviewConnecticut Attorney General Richard Blumenthal is reviewing a casino sales tax being imposed by the Mashantucket Pequot Tribal Nation. Blumenthal is concerned about a 1 percent tax the tribe is adding to the sale of merchandise at Foxwoods Resort Casino...September 3, 2009Mashantucket Tribe charges sales tax at casinoThe Mashantucket Pequot Tribal Nation of Connecticut started charging a sales tax at Foxwoods Resort Casino and MGM Grand at Foxwoods. The 1 percent tribal tax is added to the state's 6 percent tax rate. It covers merchandise sold at...September 2, 2009Pequot chairman on leave pending internal reviewThe leader of the Mashantucket Pequot Tribal Nation of Connecticut has been placed on administrative leave pending an internal review. The tribal council did not say what they would be reviewing. But Chairman Michael J. Thomas has been at...September 1, 2009Mashantucket leader removed amid gaming crisisThe leader of the Mashantucket Pequot Tribal Nation of Connecticut has been placed on administrative leave, The New London Day reports. Fellow council members said chairman Michael Thomas “betrayed our trust” by telling tribal members about the tribe's "dire...August 31, 2009Editorial: Take more revenues from tribal gaming"We've never been a fan of the casinos as a source of revenue for the state, but it's hard to object when the state has its own round-the-clock lotteries and its multiple scratch-off games. Unfortunately, despite the side consequences of...Mashantucket Tribe hires firms to deal with crisisThe Mashantucket Pequot Tribal Nation of Connecticut has hired a communications firm, a law firm and an investment firm as it deals with "dire financial times." The tribe hired Joele Frank, Wilkinson Brimmer Katcher, a firm that specializes in...August 28, 2009Editorial: Questionable Pequot Tribe priorities"News that the Mashantucket Pequots are in serious financial trouble nearly was overshadowed by the comments of the tribe's chairman, Michael Thomas, about the implications of their staggering debt. Working with an independent investment bank, the Mashantucket Pequot Tribe is...Mashantucket casino develops iPhone programMGM Grand at Foxwoods, the casino owned by the Mashantucket Pequot Tribal Nation of Connecticut, will have its own iPhone application. The program will simulate the "sights and sounds" of the facility, The Boston Herald reported. Users can learn...August 27, 2009Mashantucket Tribe asserts 'business as usual'TheMashantucket Pequot Tribal Nation of Connecticut promised to conduct "business as usual" after word spread of its desire to restructure at least $1.45 billion in debt. Most of the debt incurred from expansion of Foxwoods Resort Casino. The tribe... |
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