Pearl River Resort pays off millions in debt
The Choctaw Resort Development Enterprise recently paid off outstanding bond debt and refinanced its existing bank loan.
Tribal Chief Phyliss Anderson says revenues are up more than $11 million compared to this time last year and profits are up $2 million.
"It allows us to reduce our interest rate to a historic low, 2 percent," says Chief Anderson. "It will enable us to save about $8 million annually."
Chief Anderson says she, the resort board and resort management team are working to bring financial stability to the future generations of the tribe.
"By being able to do this we are making sure that we are paying our notes down, that we're taking care of our loans while providing service that are greatly needed for our tribal members," says Chief Anderson.
The CRDE owns and operates Silver Star, Golden Moon, Dancing Rabbit, Geyser Falls and Bok Homa Casino. Chief Anderson says the tribe continues to bring in new attractions for guests.
"It's very important that we continue to keep up with our competition. That's the only way that we're going to attract more customers here and continue with our financial success."