Mohegan Sun’s Owner Seeks to Restructure Debt

Law360, New York (January 25, 2012, 6:09 PM EST) -- The owner of Mohegan Sun Casino is taking steps to restructure its debt, struggling under reduced gambling in a tight economy that has hurt casinos in recent years, the Mohegan Tribal Gaming Authority announced Tuesday.

The authority, an agency of the Mohegan tribe that operates gambling and entertainment complexes Mohegan Sun in Connecticut and Mohegan Sun at Pocono Downs in Pennsylvania, has proposed a private offer to creditors to exchange $598 million worth of bonds for new bonds with the same balance but more advantageous conditions...
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