Litigation
Jul. 26, 2013
Amid falling revenue, tribal casinos struggle with bankruptcy eligibility
Attorneys say a recent uptick in tribal gaming enterprises experiencing defaults is consistent with the general downturn in the gaming sector over past several years. Questions persist about tribal casinos' Chapter 11 eligibility.
Daily Journal Staff Writer
Last July, after finding itself more than $40 million in debt, the Santa Ysabel Resort & Casino in San Diego County filed for Chapter 11 bankruptcy protection. The casino's largest creditor opposed the filing, alleging that its owner, the Iipay Nation of Santa Ysabel, was a sovereign tribal government not eligible for such relief.
Two months later, a bankruptcy judge ruled the casino ...
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