Foxwoods Owners Straining Again Under Heavy Debt

(AP) — The tribe that runs the country's largest resort casino is showing new signs of strain under the weight of its billion-dollar debt, saying it has had to review its options with senior lenders as a slump continues to batter the Foxwoods Resort Casino. [...] in a report this past week, credit rating agency Standard & Poor's lowered its rating for the tribe and said the chances of a debt default appear to be growing. "In particular, the gaming industry remains weighed down by a sluggish consumer economy while the regional market is feeling the added effect of new competition and increased supply from surrounding states," the tribe said in a news release.

Topics:  ap    the   foxwoods resort   casino   standard    poor   debt   tribe   rating   

 

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