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The Mashantucket Pequot Tribal Nation said it reached a deal to restructure $2.2 billion in debt, putting its Foxwoods Resort Casino in eastern Connecticut back on “solid financial footing.”
“This represents a critical step forward for our business,” said Foxwoods CEO Scott Butera, in a prepared statement. “It provides for a capital structure that will support significant investments in our gaming and hospitality businesses.”
The restructuring includes a new, $30 million working capital facility from Bank of America and Wells Fargo with a 30-month term.
