San Pasqual officials say the ruling by the National Indian Gaming Commission called into question whether the Louisiana company, First Nation Gaming, had the money to back the project. First Nation failed to provide documentation about finances and investors for its management contract application.
Federal regulators have requested the information for nearly two years. First Nation is an entity of Louisiana's Tunica-Biloxi Indian Tribe, which owns 51% of the company. The remainder belongs to a company registered to two businessmen in Louisiana and San Diego.
First Nation put up about 10% of the $40 million it cost to build and open their Valley View Casino in April. The rest came from a bank loan and a third-party investor, Sealaska Corp.
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