March 2017

California-Based Native American Tribe Obtains Financing for Casino and Resort Development

United States - California

A Native American tribe obtained a $250 million senior secured syndicated credit facility to develop a new casino and resort property in San Jacinto, California on newly acquired trust land adjacent to the tribe’s existing reservation. Our firm represented the tribe in the deal.

The credit facility was structured to enable the tribe to refinance up to $90 million of the taxable loan with tax-exempt tribal economic development (TED) bonds. Our firm also helped the tribe address jurisdictional issues and Indian land questions associated with constructing the gaming facility on trust land outside the reservation and facilitated the expedited recordation of the new trust parcels with the Bureau of Indian Affairs.

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