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California Tribe Pays Off Loans2 January 2003ANCHORAGE, Alaska – As reported by the Associated Press: "Sealaska Corp. has been repaid for its investment in a San Pasqual tribal casino in California, a tribal official said. "The tribe was able to pay Sealaska under a debt restructuring package but would not reveal terms of the deal, said Dave Toler, member of the San Pasqual casino management committee. "…Sealaska told shareholders last month that it expected to receive $14.7 million plus interest, penalties and fees. "….Sealaska financed construction of a 41,000-square-foot casino that would eventually be replaced by a luxury resort near Escondido. "But San Pasqual defaulted on loan payments to Sealaska and the permanent casino was never built." |