Business Deals | Casino Stalker

Winnebago Tribe partners with Shakopee Tribe for gaming bid

Friday, November 16, 2012

The Winnebago Tribe of Nebraska and the Shakopee Mdewakanton Sioux Community of Minnesota are working together on a commercial casino in Iowa.

Ho-Chunk Inc, the Winnebago Tribe's economic development corporation, submitted a bid for the $122.3 million Warrior Casino and Hotel in downtown Sioux City. The Shakopee Tribe has invested $20 million in the project and has agreed to provide a $9 million bridge loan.

Overall, Ho-Chunk Inc has lined up $152.3 million in funding for the project. "We wanted to show up here with no holes in this project," CEO Lance Morgan told the Iowa Racing and Gaming Commission on Thursday, The Sioux City Journal reported. "We wanted to make sure you knew that we had more than enough resources for this project."

The commission heard from HCI and two other groups seeking the license for the Sioux City casino. A decision is expected in spring 2013.

Get the Story:
Racing and Gaming hears financial proposals for Sioux City casino (Radio Iowa 11/15)
Financial plans given to the IRGC (KTIV-TV 11/15)
IRGC: Woodbury County casino financing plans pass threshold (The Sioux City Journal 11/15)
Iowa regulators to hear Sioux City casino financing plans (The Sioux City Journal 11/15)