In spring of 2016, the Tunica-Biloxi Tribe and the Tunica-Biloxi Gaming Authority asked the Mohegan Tribe and Mohegan Gaming & Entertainment (MGE) – a master developer and operator of premier global integrated entertainment resorts – to act as the manager of their Paragon Casino Resort in Marksville, Louisiana. Over the course of those five years of partnership, the Resort successfully navigated to reduce its debt by over two-thirds and recently refinanced its outstanding debt on very favorable terms. In addition, a number of employee benefits were reinstated, including the 401k match, bonus program, annual raises and implementation of minimum wage above the required state minimum. If this positive momentum continues the Tunica-Biloxi Tribe is positioned to be debt free in just seven years.
Based on the tools, framework and guidance of this partnership, the Tunica-Biloxi Gaming Authority will assume full management of Paragon Casino Resort. The Mohegan Tribe is confident they will continue their upward trend and wish our friends at the Tunica-Biloxi Tribe great prosperity.
“The Tunica-Biloxi Tribe is grateful for the management and leadership Mohegan Sun has provided the Tribe,” said Marshall Pierite, chairman of the Tunica-Biloxi Tribe of Louisiana. “This has been a true Nation-to-Nation collaboration and we will continue to work with Mohegan Sun for the overall benefit of Indian Country to ensure the growth, empowerment, and benefit of our sovereignty for generations to come.”
“This has been a great business partnership built on understanding and the mutual respect of our tribal journeys. We look forward to continuing our work together on national issues and making Indian Country stronger and safer for all indigenous people,” said Mohegan Chairman James Gessner.