Mashantucket Pequot Tribal Nation Announces Extensions of Forbearance Agreement and Term A Facility

MASHANTUCKET, Conn., Dec. 26, 2017 /PRNewswire/ -- The Mashantucket Pequot Tribal Nation ("MPTN"), owner of the Mashantucket Pequot Gaming Enterprise (MPGE) and Foxwoods Resort Casino®, today announced that it has extended its Term A Facility to June 30, 2020 and its Forbearance Agreement with senior lenders to June 30, 2019. 

MPTN's Term A Facility, with Bank of America, N.A. as the Administrative Agent, was realigned to mirror its Term B Facility maturity date.  Both extensions commenced on December 12, 2017 with the assistance of Centerview Partners, LLC.

"With the reality of competition expanding throughout the northeast, Foxwoods continues to add a variety of non-gaming and family-friendly offerings in preparation for the imminent changes to come," said MPTN Chairman, Rodney Butler. "By realigning our Term A obligations and extending our Forbearance Agreement, we can better ensure that our ongoing plans will be compatible with long-term profitability."

Disclaimer

This press release does not constitute an offer to sell or buy, or a solicitation of an offer to sell or buy, any security. No offer, solicitation, or sale will be made in any jurisdiction in which such an offer, solicitation, or sale would be unlawful.

Cautionary Statement Regarding Forward-Looking Information

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts are statements that could be deemed forward-looking statements. These statements are based on current expectations, beliefs, estimates, forecasts, projections and management assumptions. Readers are cautioned that these forward-looking statements are only predictions and are subject to risks and uncertainties that are difficult to predict. All forward-looking statements should be evaluated with an understanding of their inherent uncertainty. We caution you not to place undue reliance on forward-looking statements, which speak only as of the date they were made. MPTN does not undertake any obligation to update forward- looking statements to reflect events or circumstances after the date of this press release except as required by law. All forward-looking statements attributable to MPTN or persons acting on MPTN behalf are expressly qualified in their entirety by this cautionary statement.

About Mashantucket Pequot Gaming Enterprise
A wholly owned subsidiary of the Mashantucket Pequot Tribal Nation, the Mashantucket Pequot Gaming Enterprise (MPGE) is the management entity over Foxwoods Resort Casino, the first full-service gaming enterprise built on an Indian reservation and one of the largest resort casinos in North America. Foxwoods offers a vast array of gaming in six casinos, AAA Four-Diamond hotels, restaurants from gourmet to express, world-renowned spas, award-winning golf, state-of-the-art theaters, and exclusive retailers.  Perfect for both recreation and business, Foxwoods provides modern and versatile convention and meeting space to infuse new life into any meeting or event.  For a comprehensive look at Foxwoods Resort Casino and the Mashantucket Pequot Tribal Nation, visit www.foxwoods.com. 

About the Mashantucket Pequot Tribal Nation
The Mashantucket Pequots are a native Algonquin people in southeastern Connecticut who reside at the oldest continuously occupied reservation in the U.S., dating to its establishment in 1666. As survivors of the first genocidal massacre attempt on what would become continental U.S. soil, the Pequots' pioneering legacy of survival, precedence and restoration is featured at the world-renowned Mashantucket Pequot Museum & Research Center. (www.pequotmuseum.org).

About Foxwoods Resort Casino
25 Years Proud: Since 1992, Foxwoods Resort Casino has offered guests The Wonder Of It All as the premier resort destination in the Northeast.  As the largest resort casino in North America, Foxwoods offers a vast array of gaming in seven casinos; AAA Four-Diamond hotels, restaurants from gourmet to quick service, world-renowned spas, award-winning golf, state-of-the-art theaters, exclusive retailers and free-to-play online casino games at FoxwoodsONLINE.com. Foxwoods is owned and operated by the Mashantucket Pequot Tribal Nation and was the first full-service casino built on tribal land, pioneering a nationwide movement that now includes more than 400 gaming properties owned and operated by over 200 tribes across the U.S. For more information on Foxwoods and the property's 25^th anniversary celebrations, visit foxwoods.com.

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SOURCE Foxwoods Resort Casino