Picayune Rancheria of Chukchansi Indians ("Tribe") is pleased to announce that its wholly owned tribal enterprise, Chukchansi Economic Development Authority ("CEDA"), is making substantial progress in re-opening their world class gaming facility, Chukchansi Gold Resort & Casino

The Tribe is actively working with the National Indian Gaming Commission ("NIGC") to re-open the gaming facility

CEDA has hired Christian Goode as Chief Operating Officer

CEDA enters into a term sheet for a $35 million Senior Credit Facility

Jul 20, 2015, 15:38 ET from Chukchansi Gold Resort & Casino

COARSEGOLD, Calif., July 20, 2015 /PRNewswire/ -- The Picayune Rancheria of Chukchansi Indians ("Tribe"), through its wholly owned tribal enterprise, Chukchansi Economic Development Authority ("CEDA") achieves significant milestones necessary to re-open their world class, Chukchansi Gold Resort & Casino ("CGRC").   The much anticipated grand re-opening of CGRC will occur before the end of 2015.  The Tribe is in active discussions and expects to finalize an agreement with the NIGC that will enable the facility to re-open expeditiously.

CEDA has entered into a term sheet with certain lenders that contemplates up to $35 million to re-open the facility, bearing interest at 12%.

CEDA has hired Christian Goode from Ivory Gaming to manage the day-to-day operations of the CGRC as the Chief Operating Officer.  Prior to founding Ivory Gaming, Mr. Goode was President of Genting Americas ("Genting") and brings over two decades of experience developing and operating the best in gaming facilities in North America.  During his tenure at Genting, he was responsible for all aspects of development, construction, and operations for the Genting Group—Resorts World in the Americas, managing an investment/operations portfolio of over $2 billion.  Specifically, Mr. Goode spearheaded the development of the $880 million Resorts World New York City project, which became the largest grossing slot facility in the world in less than 2 years of operations.

"I look forward to working on behalf of the Tribe and its members to restore this facility as the destination of choice in the Central Valley," said Goode, "We expect to re-open and operate this world class facility in a manner that the tribe can be proud of and one that provides a first rate experience to every guest."

Tribal Chairman, Reggie Lewis is extremely pleased with the developments and stated, "These are just the first steps on our journey to provide our Tribal members with opportunity and economic stability that will pave the way to self sufficiency for generations.  We are very excited to have secured world-class partners to assist us in achieving our goals."

For more information, please call (559) 692-5200 or email info@chukchansigold.com

Chukchansi Gold Resort & Casino features live table games action, reel and video slot machines, a 300-seat award winning buffet, Vintage our world-class steakhouse, over 400 luxurious hotel rooms and suites, a full service spa and various other amenities.

SOURCE Chukchansi Gold Resort & Casino