Meanwhile, a source knowledgeable of Foxwoods' restructuring said there are other tribes with unsustainable capital structures relating to their gaming ventures. Tribe-owned casinos with ratings of B3 negative and lower from Moody's Investors Service include Mohegan Tribal Gaming Authority, Buena Vista Gaming Authority, Shingle Springs Tribal Gaming Authority, Snoqualmie Entertainment Authority and Tunica-Biloxi Gaming Authority.
The Mashantucket Pequot Tribal Nation was advised by restructuring firm Miller Buckfire & Co. LLC's James Doak. The tribe took legal advice from a Weil, Gotshal & Manges LLP team that included Andrew Yoon, Stephen Karotkin, Ronit Berkovich, Miranda Schiller, Todd Chandler, Ted Waksman, Larry Gelbfish, and Stuart Goldring.
Bank of America NA was advised by a team from Davis Polk & Wardwell LLP that included Waide Warner, Sartaj Gill, Marshall S. Huebner, Brian M. Resnick, James H.R. Windels, Frank J. Azzopardi, Po Sit, John Fouhey, Susan D. Kennedy, Betty Moy Huber, and Erin K. Cho.
Kien Huat Realty took advice from Cleary Gotlieb Steen & Hamilton LLP.The SRO bondholders were advised by Blackstone Group's Michael Genereux and Ken Nguyen. Certain SRO bondholders took legal advice from Bingham McCutchen LLP; Akin Gump Strauss Hauer & Feld LLP advised their steering committee. The steering committee for the holders of SSRO bonds took advice from Mintz Levin Cohn Ferris Glovsky and Popeo PC. The 8.5% noteholders' steering committee was advised by Bracewell & Giuliani LLP. -- Written by Lisa Allen in New York.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts