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Glacier Peaks Casino celebrates first anniversary

1 October 2007

BROWNING, Montana -- As reported by the Great Falls Tribune: "This weekend marks the first anniversary of the Blackfeet Tribe's big casino, but officials are reluctant to say whether their $7 million bet is paying off.

"'Our financial position at the end of 2006 was not as strong as we had hoped it would be,' said Dennis Fitzpatrick, manager of the Glacier Peaks Casino.

"'Our revenues were very good, but our expenses were even greater, so we let our managers go,' said tribal Treasurer Joe Gervais.

"That situation has finally turned around, Gervais said.

"'They've had well over $10 million in revenue this year and they've turned a small profit, but they're in a rather large hole due to their debt load,' he said.

"...Poor cash flow, however, forced the tribe to loan the casino $50,000 in December, the same month Green wrote a letter to vendors apologizing for late payments and promising improvement..."

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