PHILADELPHIA, Miss. (AP) — Mississippi Band of Choctaw Indians Phyliss J. Anderson has signed a new loan package to renovate the Silver Star Hotel and Casino and reopen the Golden Moon Hotel and Casino, among other resort-wide improvements and capital investments.
The Neshoba Democrat reports Anderson signed the refinancing documents this week with Trustmark Bank and Fifth Third Bank.
"I want to thank the many people involved in securing this low-interest loan. This deal is something every tribal member should have pride in because it is the best rates banks have ever given our tribe.
"This deal clearly demonstrates banks and lenders have confidence in the work we are doing here at Pearl River Resort and on the Choctaw Indian Reservation," Anderson said.
Pearl River Resort is currently celebrating its 20-year anniversary. It was in 1994 that the Tribe first opened its flagship casino, Silver Star Hotel and Casino.
Since then the Resort has expanded five times as well as expanded outwardly to include resort amenities such as the Bok Homa Casino, Dancing Rabbit Golf Club, Geyser Falls Water Theme Park and Clearwater Key Beach Club to name a few.
Anderson had said the new money was needed to maintain the current level of employment and to improve profitability.
Renovations are underway.
The Choctaw Tribal Council adopted the resolution late last year to refinance an existing $70 million loan at the lowest interest rate ever offered to the Tribe. The resolution also included an action to secure a new low-interest loan up to $75 million for resort improvements.
Pearl River Resort, http://www.pearlriverresort.com
Information from: Neshoba Democrat, http://www.neshobademocrat.com
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