Foxwoods Tribe Strikes Deal With Other Tribe

The deal is with the Pauma Band of Mission Indians will have the Pequot’s oversee a $300 million project north of San Diego to replace an existing 1,050 slot machine gaming hall with a full-scale resort featuring a 500-room hotel, 2,000 slot machines and 50 table games, as well as an entertainment venue, retail stores, and a variety of fast-food and fine dining restaurants.

The yet to be named facility will commence construction upon the completion of talks with the County of San Diego and is expected to take two years to complete. It could open as early as spring 2009.  And since the Pauma Band of Mission Indians signed a revised gambling compact with Governor Arnold Schwarzenegger, they’ll be allowed to expand the number of slot machines offered indefinitely in exchange for surrendering a higher percentage of their take to the state government.

“We are fortunate to have the financial resources and gaming expertise to help other tribal communities to achieve economic self sufficiency,” said Michael Thomas, Chairman of the Mashantucket Pequots. “This agreement is about Native solidarity. It’s also about Native peoples reaching out to build solid tribal economies.”

The Mashantucket Pequots operate Foxwoods Resort, Casino, which is the world’s largest casino resort with 340,000 square feet of gaming space in a 4.7 million square feet complex. The property features a trio of hotels with 1,416 rooms and suites, the world’s largest bingo hall, 7,000 slot machines and 400 table games, including 100 for poker.

This is the third try at a partnership for the Paumas, who are looking to differentiate themselves from the competition by creating a massive resort complex. Previously deals with Hard Rock and Caesars evaporated.

“Our reasons for partnering with the Pequots on this project involves more than the fact that they bring with them a spectacularly successful track record with their own gaming enterprise in Connecticut,” said Pauma Chairman Chris Devers. “The Pequots respect Native sovereignty and have a long history of struggle and perseverance, and we can relate to that.”

The Mashantucket Pequot Tribal Nation and its development arm, Foxwoods Development Company are getting aggressive about advising other tribes on casino operations and developing their own properties outside of Connecticut.
 
In January 2005, the tribe announced an agreement with the Chukchansi Economic Development Authority of the Picayune Rancheria of Chukchansi Indians to assist 
the Tribe in evaluating and improving its Chukchansi Gold Resort & Casino.


The Mashantucket Pequots are also working to expand into the Biloxi, MS market with a planned $400 million resort complex to be called Foxwoods Resort Casino at Broadwater Beach.

They’re also partnering on a $270 million casino resort with the Iowa Tribe of Kansas & Nebraska in Sedgwick County. The resort will be on tribal land and include a 260,000 square foot. facility featuring 2,500 slot machines and 50 gaming tables. There will also be a 300-room hotel with indoor/outdoor pool, spa, four restaurants and a40,000 square foot convention and conference center that will feature 15,000-18,000 square foot ballroom plus additional breakout meeting rooms.

In Philadelphia, the Tribe (along with a series of investors) hopes to secure one of two available gaming licenses for the city. The multi phase project will include 3,000 slot machines, entertainment and food and beverage venues during the initial construction with the addition of up to 2,000 more slot machines, hotel, retail and dining outlets in subsequent phases.

Foxwoods Resort Casino has proven to be a cash cow since it first started offering slot machines and table games in January 1993.  In May, net slot win was $72.6 million alone. The Tribe is also in the midst of a $700 million expansion project which will open in spring 2008 and include a new MGM Grand branded hotel and expanded conference facilities.

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