MARKSVILLE, La., June 10, 2021 /PRNewswire/ — 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.
About the Tunica-Biloxi Tribe of Louisiana:
The Tunica–Biloxi people first appeared in the Mississippi Valley. In the late 1700s, they settled near Marksville, where they were skilled traders and entrepreneurs. Today, the Tribe has more than 1,500 members throughout the United States, primarily in Louisiana, Texas and Illinois. The Tunica-Biloxi Tribe received federal recognition in 1981 for its reservation within the boundaries of Louisiana. The tribe owns and operates the Paragon Casino Resort, the largest employer in Central Louisiana. Through its compact, negotiated by the late Tribal Chairman Earl J. Barbry Sr. and the State of Louisiana, the Tribe has assisted local governments in the area with its quarterly distribution of funds, totaling more than $40 million over two decades. For more information about the Tunica-Biloxi Tribe of Louisiana, visit www.tunicabiloxi.org and «like» us on Facebook.
About Mohegan Gaming & Entertainment
Mohegan Gaming & Entertainment (MGE) is a master developer and operator of premier global integrated entertainment resorts, including Mohegan Sun in Uncasville, Connecticut, Inspire in Incheon, South Korea and Niagara Casinos in Niagara, Canada. MGE is owner, developer, and/or manager of integrated entertainment resorts throughout the United States, including Connecticut, New Jersey, Washington, Pennsylvania, as well as Northern Asia and Niagara Falls, Canada, and Las Vegas, Nevada. MGE is owner and operator of Connecticut Sun, a professional basketball team in the WNBA. For more information on MGE and our properties, visit www.mohegangaming.com.
Mohegan Gaming & Entertainment:
Kayla Frauenheim | Coyne PR
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SOURCE Mohegan Gaming & Entertainment