πŸ’° River Rock Casino woes mount as revenue is cut in half

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River Rock Casino seeks to restructure debt
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McGuire said that despite the drop in visitors to River Rock, β€œIt's still more than Alexander Valley and Geyserville ever saw prior to the casino being constructed.


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McGuire said that despite the drop in visitors to River Rock, β€œIt's still more than Alexander Valley and Geyserville ever saw prior to the casino being constructed.


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The notes β€” essentially the full payment of that debt β€” are due in Hopkins would not reveal either the amount of the interest payment to bondholders that the casino missed in May or the amount of another interest payment due before the end of the year. Hopkins said about 1, machines remain. Hopkins downplayed the possibility of the tribe building a more conveniently located casino there, as it once considered. You must be logged in as a subscriber to access the comments section. He said the tribe is pursuing plans for a wetlands mitigation bank there, in which developers purchase credits to offset the loss of habitat caused by their projects in other locations. Please enter the email address for your Disqus account to join the comments Email Continue. Hopkins said River Rock is not the only casino impacted by Graton. While revenues may be down at River Rock, Hopkins insists it will stay open. A gaming consultant for other tribes said Graton has definitely had an impact on casinos along Highway , including River Rock, and some to the north in Mendocino and Lake counties, where the market is local residents and people from the Bay Area. Indian casinos in other parts of the country, from Foxwoods in Connecticut to Buffalo Thunder in New Mexico, have done the same, he said. When you follow a story, the next time a related article is published β€” it could be days, weeks or months β€” you'll receive an email informing you of the update. He said the tribe also wants to build as many as 45 homes there for tribal members, along with the possibility of sports fields and a fire house.

The "Follow This Story" feature will notify you when any articles related to this story are posted. This tool is available only to subscribers; please make sure you're logged in if you want to follow a story.

There's also an "Unfollow" link in every email notification we send river rock casino geyserville. Two years ago, casino officials said River Rock was attracting 1.

Learn why. He said the incentive for a tribe is essentially to protect its credit rating. If you no longer want to follow a story, click the "Unfollow" link on that story. Log In Subscribe. We still have income. Vineyards and olive trees also are being considered for planting there. Plans for a hotel have ca dropped.

Casino operations continue today, which is why the impacts of that gaming facility need to be mitigated. Hopkins said when it comes to the money owed bondholders, the tribe has a team of consultants and lawyers prepared to meet with a majority of the ca to discuss a resolution for the late payments.

Instead, they suggested that River Rock may once more seek to restructure its debt, possibly by winning concessions from creditors in regard to the repayment of both river rock casino geyserville and interest. He said the casino wants to demonstrate to investors that marketing and promotions continue, along with expense reductions.

For example, with the smaller number of patrons at River Rock, the number of slot machines was reduced by to avoid the monthly licensing fees.

You can reach Staff Writer Clark Mason at or ca. Learn more. Log In. The project was shelved indefinitely when the recession hit. The tribe has faltered before on its debts. Essentially, he said the expense would be prohibitive and surmounting opposition from Petaluma and other communities learn more here daunting.

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We still have a lot of guests. Greg Sarris, chairman of the Federated Indians of Graton Rancheria, did not return a call requesting comment. The Dry Creek Pomos also relocated their headquarters from a modern, 20,square-foot office building on Airport Boulevard, north of Santa Rosa. Hopkins said the or so casino employees β€” down from approximately β€” still are being paid, along with casino vendors. He also wants to serve alcoholic beverages later than 11 p. Please enter the email address for your Disqus account to join the comments. The tribe also curtailed or discontinued programs that provided books and clothes to its schoolchildren and assistance for college tuition and housing programs. Your access to the comments section has been restricted. River Rock Casino woes mount as revenue is cut in half. The Dry Creek Rancheria Band of Pomo, which owns River Rock, blames competition from the bigger, glitzier casino to the south for cutting business in half at the older, more remote facility near Geyserville. The reduced staff β€” down to 10 employees β€” now works out of three modest modular units at the base of the hill leading to River Rock. Please note: This feature is available only to subscribers; make sure you're logged in if you want to follow a story.