Thursday, July 15, 2010

Debt Laden Tribes No Model for Mass Gaming

Massachusetts elected officials need look no further than Foxwoods and the Mohegan Sun casinos just South of the state's border if they want to predict the future of Indian gaming for the Commonwealth.

The Foxwoods owners — the Mashantucket Pequot Tribal Nation — have more than $2 billion in debt as a result of their casino development.  Meanwhile, the non-Native American investors behind the scenes have skimmed off hundred of millions in payouts for their troubles.  So, the revenues to the state are less than from a non-Indian gaming operation and the tribe is buried in debt.

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