I'm pretty sure that Foxwoods IS the only interest of the tribal nation. Do they even have another source of income? I'm just not understanding your "state controlled enterprise" comment.
I am in Nevada, Lake Tahoe....it is brutal out here in NV, ....casinos are DEAD. NV is losing tax $$$ revenue in a massive way. NV is the highest foreclosure state in the U.S., it will be going belly up shortly. Be careful with casino stocks. The worst is yet to come.
It probably is the only thing they do. We've got a semi-sovereign state, aka the tribe. It controls a casino. How is that not a state controlled enterprise? I really don't get what the confusion is. It would be just like if Luxembourg owned a casino or something. Are we using different meanings of the word "state"???
The part I don't get is how the state controlled corporation will put the "interests of the state" over the debtor's interest. Foxwoods IS the only interest of the state. What's good for Foxwoods is good for the state. So what interest of the state is trumping the interest of Foxwoods, which is also the interest of the debtor? I just don't see your point. Maybe I'm nit picking. How are they handling it any differently than a non-state controlled business would?
Forget foxwoods...... My attention is now set on mgm citycenter, waiting to see what happens when you place another 6000 rooms on an already crowded strip with over 100,000 in the middle of the worst recession. Only costing about $9 billion to build lets see if people start running to las vegas to see this project that almost went bankrupt succeed during this credit crisis.