- September 20, 2010
The annual report on Indian gaming authored by Principal Economist Alan Meister was recently cited in the Financial Times. The article describes how some Native American tribes are struggling to repay loans used to finance casinos. Dr. Meister’s annual study shows that Indian gaming experienced impressive growth from 1988 to 2008, with revenues rising from $121 million to $26.8 billion during the period. The article focuses on the Mashantucket Pequot Tribal Nation’s situation regarding its Foxwoods Casino, one of the largest gaming facilities in the world. In light of the Tribe’s default on its loan, it is negotiating with creditors to restructure the debt. The article suggests that this and other debt restructurings may affect the availability and cost of financing for other tribes’ gaming ventures.