TITLE

As Casino Boom Continues, More Tribes Look to Bonds

AUTHOR(S)
Vadum, Matthew; Fine, Jacob
PUB. DATE
May 2003
SOURCE
Bond Buyer;5/14/2003, Vol. 344 Issue 31635, p28
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
American Indian tax-exempt bond financing are on the rise as the tribal gambling industry rapidly expands. About 400 million dollar in casino-related municipal bond deals have been sold over the first half of 2003 alone in four separate deals, according to Merrill Lynch & Co. Indian gambling in the U.S. generated 13 billion dollar in revenues from 1994 to 2001, which represents a compounded annual growth rate of 19 percent. 60 percent of federally recognized tribes in the contiguous 48 states are involved in gambling, and the percentage will probably rise as more tribal governments take action to get into the potentially lucrative market.
ACCESSION #
9860005

 

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