North Fork Rancheria of Mono Indians secures $725m for new resort in California
Proceeds will be used for the development of North Fork Mono Casino & Resort near Madera.
US.- The North Fork Rancheria of Mono Indians of California has announced that it has closed on a financing agreement totalling nearly $725m. The proceeds will be used for the development of North Fork Mono Casino & Resort near Madera.
The delayed draw term loan facility was agreed between the North Fork Rancheria Economic Development Authority, a wholly owned entity, and a syndicate of lenders led by VICI Properties.
The North Fork Mono project will be developed and managed by affiliates of Red Rock Resorts. The casino and resort will have approximately 2,400 slot machines, 40 table games, two restaurants, three bars, a food hall, a small retail offering and parking. Pre-construction activity began in September 2024.
Tribal chairman Fred Beihn added: “Red Rocks Resorts and its affiliate Station Casino have been constant, dedicated partners of the Tribe for over 20 years. This financing package expands and enhances that partnership further.”
Tribal Treasurer Maryann McGovran said: “We appreciate everything Station and the lenders have contributed to our two-decade-long dream of bringing jobs and economic development to our Tribe and community”.
