The advancements of Indian country since the introduction of gaming has
benefitted tribes, states and the federal government. These achievements
are the results of the coordinated efforts from dedicated tribal
leaders who have been part of making the Indian gaming industry what it
is today. I would like to take a moment to thank one such tribal leader.
With several tribal gaming borrower defaults recently gaining national media attention, there has been much speculation with regard to the viability, enforceability and overall strength of tribal casino/resort investments. A discussion of key critical lending and investment considerations is certainly warranted.
The National Indian Gaming Association (NIGA) and the rest of Indian country proudly supported the Six Nations of the Iroquois Confederacy (Haudenosaunee) exercise of sovereignty during the recent controversy that took place in the 2010 World Lacrosse Championship. The issue began on July 11, when the United Kingdom and United States refused to recognize the Iroquois Confederacy passports.
The summer months have arrived, and it is hard to believe that we are already halfway through 2010. Throughout the country, students are out of school for summer break and families are hitting the trail. The summer months are always a particularly special time for Indian country.
Gaming industry leaders first met college scholarship recipient Shannon Alden-Wilson at NIGA’s Indian Gaming 2010 trade show in San Diego. Alden-Wilson bravely stood in a room full of NIGA Associate Members and told her story. Alden-Wilson’s story is just one example of why NIGA places such importance on funding education.
Late last year, when it appeared to Wells Fargo that the Lac du Flambeau Band of Lake Superior Chippewa Indians wasn’t going to timely pay interest and principal on $46.6 million in bonds it had issued, the bank went to court. Instead of coming away with a receiver and its money, Wells Fargo learned that the contract on which it was suing was entirely “void” since it had not been submitted to the NIGC for approval.
From the economy to i-gaming, NIGA’s executive director Mark Van Norman gives us a peek at what issues the association is hard at work on at Capitol Hill. The 12-person NIGA office in Washington, D.C. works to keep in touch with various government committees and agencies and to facilitate meetings for tribal representatives to speak their mind to lawmakers.
As the credit market has begun to thaw, those seeking funds have slowly been able to tap into debt financing markets. Indian country, including tribal gaming activities, does not differ from the rest of the United States economy. Tribes were not immune to the consequences of frozen credit markets and now may be able to access debt markets.
This year, the National Indian Gaming Association is celebrating more than 25 years of rebuilding Indian communities through Indian self-reliance. Following that tradition, NIGA has recognized Indian leaders for their commitment to the protection of Indian sovereignty and their leadership in Indian country. More than 12 years ago, we began the Wendell Chino Humanitarian Award.
This year marks the 25th anniversary of the National Indian Gaming Association (NIGA). Throughout its history, NIGA has remained committed to being the foremost educational, legislative and public policy resource for tribes, policymakers and the public on Indian gaming issues and tribal community development to advance Indian peoples economically, socially and politically.
