Madera, Calif. (May 1, 2025) — The North Fork Rancheria of Mono Indians of California(“Tribe”) announced today that it had closed on a finance agreement totaling nearly $725.0 million.
The delayed draw term loan facility (the “Term Loan Arrangement”) was made between the North Fork Rancheria Economic Development Authority (“NFR EDAB”), a wholly owned entity of the Tribe, and a syndicate of lenders led by VICI Properties Inc., an experiential real estate investment trust (REIT) based in New York City.
“We appreciate the vision and hard work of the financing team to make this deal a reality,” said Elaine Bethel-Fink, President of NFR EDAB, “We are proud and delighted to be on the same team.”
The proceeds from the Term Loan Arrangement will be used for the development of the North Fork Mono Casino & Resort project located near Madera, California, to be developed and managed by affiliates of Red Rock Resorts, Inc., a premier gaming, development, and management company with extensive experience in regional gaming and entertainment based in Las Vegas, Nevada.
“Red Rocks Resorts and its affiliate Station Casino have been constant, dedicated partners of the Tribe for over 20 years”, said Tribal Chairman Fred Beihn. “This financing package expands and enhances that partnership further.”
Upon completion, the casino and resort will feature approximately 2,400 slot machines, 40 table games, two restaurants, three bars, a food hall, a small retail offering, a parking structure, and outdoor parking for RV and oversized vehicles.
“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”, said Tribal Treasurer Maryann McGovran.
“Today our dream is closer than ever with the financing in place”, added Tribal Secretary Christina McDonald.