On April 28, 2012, the Tribal Governing Board at the General Membership meeting detailed the financial condition of the tribe. The Tribe has accumulated a serious financial burden of more than $50 million dollars in bonds, bank loans, and deferred revenue assessments. In 2006, the LCO Casino contributed $6 million dollars in operating revenue to the Tribe; in 2011, that revenue contribution was $2 million. As the US economy has slowed, and with limited reinvestment in our casino properties, we have had less gaming patrons and minimal casino revenue was forthcoming during June and July of this year to support our operations.On December 1, 2008, Lac Courte Oreilles was added to the Nez Perce Tribe et. a/ vs. Salazar lawsuit against the federal government for mismanagement of tribal trust funds and natural resources. This lawsuit is not the same as the Cobe/1 case that involved mismanagement of trust funds and assets of individual tribal members. The Nez Perce lawsuit was settled and the Tribe will receive $8.29 million dollars.
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