Mohegan Gaming & Entertainment is trying to hammer out an agreement to borrow another $100 million to keep its shuttered casinos afloat after missing a self-imposed deadline last week to get a loan, Bloomberg News reported. Some investors pushed back on the company’s efforts to borrow earlier this month, citing concerns including the casino operator’s ability to raise all the money it needs to repay maturing debt next year and to fund ambitious planned expansion. A group of Mohegan lenders tapped investment bankers at Rothschild & Co. as financial advisers while negotiations continue, according to people with knowledge of the matter. Representatives for Credit Suisse Group AG, which is leading the loan offering, and for Rothschild declined to comment, while Mohegan didn’t respond to a request for comment. The company had offered to pay a yield of over 14 percent for a new loan maturing in October 2021. It also sought to change lending agreements known as covenants on its existing loans to give it more flexibility to navigate a period with lower revenue. It is an extension of the Mohegan tribe in Connecticut and operates the Mohegan Sun in that state as well as other casinos in North America.
