Foxwoods Casino Is Fighting for Its Life - The New York Times

The Foxwoods casino sure could use a modern version of a rainmaker. Like all casinos in the nation, Foxwoods and Connecticut's other Indian casino, Mohegan Sun, are suffering from the deep Updated June 8, 2010 12:01 am ET The head of Foxwoods Resort Casino has stepped down just 18 months into the job, creating further uncertainty around the U.S.'s largest gambling property as it A Pennsylvania bankruptcy judge has thrown out a bid by the bankrupt developer of a failed Foxwoods casino project in Philadelphia to recoup a $50 million casino licensing fee paid to the state See "Bankruptcy and Tribal Casinos: 'Conventional Wisdom' Meets Reality" (Vol. 3, No. 28 - Oct. 27, 2010). Foxwoods never went into bankruptcy, nor did other tribal casinos in deep financial distress such as the Inn of the Mountain Gods and Lake of the Torches, but the debate has continued albeit with a lower level of publicity. However, the issue is now front and center with the recent A federal judge has upheld a bankruptcy court’s rejection of a development group’s bid to recoup the $50 million licensing fee it paid for the ill-fated Foxwoods Casino Philadelphia project Failed Foxwoods Casino Inches Closer To Getting $50 Million Back The development group continued to miss deadlines and, eventually, their license was revoked in 2010. Bankruptcy court, district judge rule against Foxwoods. FDC and their partners were determined to get their licensing fee back, so they filed for bankruptcy on April 1, 2014, in the hopes that the bankruptcy court would PHILADELPHIA The partnership behind the failed Foxwoods Casino project in South Philadelphia filed Monday for bankruptcy court protection, citing claims of $23.6 million from 14 creditors. In addition, Citizens Bank, the largest creditor, is owed an unspecified amount, according to the court petition. NEW YORK -- The restructuring of Foxwoods Resort Casino's $2.3 billion in debt has concluded with an out-of-court agreement after four years of negotiations, eliminating $550 million in debt After four years of negotiations, the Native American tribe that owns Foxwoods Resort Casino has closed on a deal that restructures about $2.3 billion in debt and gives the group additional funds (Foxwoods won a license to build a casino in Philadelphia, but its financial problems prompted the state’s gaming control board to revoke it in 2010.) The Mohegan Sun has struggled recently, too

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