![]() ![]() It struggled due to the national economic recession but revenues have been improving. The tribe opened the Red Hawk Casino in 2008. "We are proud to have been involved in the development and management of this first-class casino property and we wish the Shingle Springs Tribe continued success," Lakes President and Chief Financial Officer Tim Cope said in a press release. "That is the way it is supposed to work, and in fact, federal law requires it." "The tribe is finally in a position to benefit from its own gaming operation," Chairman Nicholas H. The tribe paid about $57.1 million to end the relationship and pay off remaining debts to the company. The restructuring enabled the tribe to buy out its management contract Lakes Entertainment. The tribe secured a $245 million bank loan and $260 million in bonds, according to a press release. The tribe announced a restructuring of about $524 million in gaming debt. Springs Band of Miwok Indians of California has refinanced its casino debt and bought out its gaming management contract. Courtesy Shingle Springs Band of Miwok Indians
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