NIGC Wants Coushatta Casino Ex-GM Suspended Amid Fraud
Summary
Federal regulators from the National Indian Gaming Commission (NIGC) have asked the Coushatta Tribal Gaming Commission to suspend the licence of Todd Stewart, the former general manager of Coushatta Casino Resort in Kinder, Louisiana. The NIGC letter alleges Stewart failed to disclose suspected fraud during the 2023 annual audit and did not inform a potential lender about credit-card misuse while the casino sought a $150 million construction loan.
The issue centres on audits and reports showing uncontrolled credit-card spending, with over $100,000 of purchases unaccounted for across a two-month period and estimates that at least $350,000 may have been misappropriated. The tribal council has since removed credit cards and introduced an expense reporting policy, and the NIGC has instructed the tribe to issue a hearing notice regarding Stewart’s possible licence revocation within 45 days.
Key Points
- The NIGC requested suspension of ex-GM Todd Stewart’s gaming licence for failing to report suspected fraud to auditors.
- An audit and the Louisiana Legislative Auditor found poor oversight of credit-card use and missing receipts for more than $100,000 in purchases.
- Investigations suggest at least $350,000 may have been misused by the former tribal chairman and possibly others.
- Stewart reportedly did not inform a potential $150 million construction lender about the suspected fraud until after the loan was secured.
- The tribal council removed the casino credit cards and adopted a formal expense reporting and reimbursement policy after the audit findings.
- The Coushatta Tribal Gaming Commission must issue a hearing notice and inform regulators within 45 days about Stewart’s licence status.
Context and Relevance
This case highlights regulatory scrutiny of tribal gaming operations and the importance of transparent financial controls in casinos pursuing large-scale financing. The NIGC’s intervention could set or reinforce precedents around licence suitability, executive accountability and disclosures to lenders. For stakeholders in tribal gaming, finance and compliance, the outcome may influence governance and lending risk assessments across similar operations.
Author style
Punchy: this is not just paperwork — it’s a regulatory spotlight on governance failures that allowed sizeable questionable spending while a massive loan was being arranged. If you work in tribal gaming, compliance or casino finance, the detail matters.
Why should I read this?
Short version: messy money, a big loan, and regulators stepping in. If you care about who gets to run casinos, how tribal finances are protected, or how lenders assess risk, this story saves you digging through audits — we read it so you don’t have to. Expect licence fallout and tighter controls coming.
Source
Source: https://www.gamblingnews.com/news/nigc-wants-coushatta-casino-ex-gm-suspended-amid-fraud/