SANTA YSABEL RESORT & CASINO SEEKS DEBT RESTRUCTURING

June 2012 Articles

Santa Ysabel; Santa Ysabel Casino

July 4, 2012 (Santa Ysabel) -- An official of the Santa Ysabel Resort and Casino announced that the facility will continue to operate as usual while it seeks to restructure its debt under Chapter 11 of federal bankruptcy law.

The tribeʼs attorneys filed the petition yesterday in federal bankruptcy court Southern District of California.

Casino General Manager David Chelette said the strategic reorganization will have no discernible impact on employees or customers. All casino operations, promotions and payouts will continue unaffected.

Chelette said the move will enable the casino to right-size its debt and ensure its longterm viability.

“This proactive step enables us to protect the jobs of our employees, which are vital not only to them and their families, but to the local economy as well,” he concluded.

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