Business Deals
Cheyenne-Arapaho backers to get nearly 40 percent


Backers of a proposed casino in Colorado would get nearly 40 percent of revenues in the first six years of operation, The Denver Post reports.

The Cheyenne-Arapaho Tribes of Oklahoma have partnered with a team of investors that includes Alaska Native corporations and several private equity firms. According to the paper, the Native American Land Group would receive 39 percent of the casino's net revenues during the first six years of operation and 29 percent over the six subsequent years.

The land group would fund construction of the $150 million casino. The tribes would pay off this investment in 10 years using casino revenue.

The tribes claim 27 million acres of land in Colorado. They say they will settle for 500 acres near Denver and gaming rights.

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