absinthe
09-01-2009, 07:02 PM
I haven't seen a thread yet on the financial troubles facing the Mashantucket Pequot Tribal Nation, they own Foxwoods casino and are partners with MGM. They are swimming in debt and I've heard estimates of $1.4 billion-$2.3 billion.
They just get rid of their tribal chairman. Does anyone know what would happen if they declared bankruptcy? They are a sovereign government and the tribe had said they would pay out to tribal government and tribe members before any other creditor. If someone knows this area of the law and business and could break it down for idiots like me, that would be great.
I've never been there, is it a nice casino? I've been to Las Vegas before, does it compare to anything on the strip? Is it anyone's "home" casino?
Sorry for the rambling post.
http://www.wfsb.com/money/20657421/detail.html
http://www.philly.com/inquirer/breaking/business_breaking/20090901_Tribe_that_owns_Foxwoods_relieves_its_cha irman.html
They just get rid of their tribal chairman. Does anyone know what would happen if they declared bankruptcy? They are a sovereign government and the tribe had said they would pay out to tribal government and tribe members before any other creditor. If someone knows this area of the law and business and could break it down for idiots like me, that would be great.
I've never been there, is it a nice casino? I've been to Las Vegas before, does it compare to anything on the strip? Is it anyone's "home" casino?
Sorry for the rambling post.
http://www.wfsb.com/money/20657421/detail.html
http://www.philly.com/inquirer/breaking/business_breaking/20090901_Tribe_that_owns_Foxwoods_relieves_its_cha irman.html