Artist's rendering of the Hollywood Casino Jamul, a project of the Jamul Indian Village and Penn National Gaming.
Howard Stutz looks at non-Indian financing of tribal casino projects in California and other states:
New casino development in Las Vegas is on lockdown. Gaming expansion into states beyond recently approved markets is virtually nonexistent. Those are two reasons regional casino giant and M Resort owner Penn National Gaming, Inc. struck a deal with a San Diego-area Indian tribe to develop a long-stalled casino complex in Southern California. A third reason is simple. Penn National, which has 29 casinos nationwide, views the planned $360 million Hollywood Casino Jamul as an opportunity to increase its customer base in an untapped market. The development is 20 miles east of downtown San Diego, California’s second-largest city and the eighth-most populous city the U.S. “We love the location and it’s a new way for us to cultivate a whole new set of customers,” Penn National Chief Operating Officer Jay Snowden said of the property, which is being built in partnership with the Jamul Village Indian Tribe. In addition to the 390-room M Resort, Penn’s other Western casino is the Zia Park Racetrack in New Mexico. “We’re eager for any opportunities to grow the company,” Snowden said. The idea of the commercial casino industry striking management deals with Indian tribes isn’t new.Get the Story:
Howard Stutz / Gaming Guru: Gaming companies have lucrative deals operating Indian casinos (Casino City Times 1/27)
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