Tribes growing casino portfolios and diversifying economies
From Atlantic City to South Korea, to the Caribbean Islands, American Indians are looking beyond their reservations—and even U.S. borders—in growing their tribal gambling portfolios.
But tribal economic diversification beyond casinos, largely fueled by gambling resources, is occurring at an even faster pace.
Economic progress in Indian Country predicted with passage in 1988 of the Indian Gaming Regulatory Act (IGRA).
Has dramatically accelerated in the last five years after a slow start leading into the depression of 2007, industry sources say.
The accumulation of revenue and diminished debt tied to casino development,
Improved human resources and business acumen, and an increasing willingness of lending institutions to invest in Indian Country are all factors in the economic growth of many indigenous communities.
Tribes are launching and acquiring business enterprises beyond casinos and tourism,
Including commercial real estate, technology, agriculture, manufacturing, government contracting and traditional and green energy.
Meanwhile, as the tribal casino market grows saturated and opportunities for gambling on Indian trust.
lands become scarce, an increasing number of tribes are acquiring off-reservation casinos and launching commercial gambling ventures.
Hard Rock International, a multibillion-dollar enterprise of the Seminole Tribe of Florida,
Continues to generate headlines with domestic and international expansion, pursuing projects in Japan, Costa Rica and Spain.
ABOVE Beyond Its worldwide ventures include a purchase of the former Trump Taj Mahal in Atlantic City,
Set to reopen in the summer of 2018 under the Hard Rock brand.
The company also recently added a racino near Ottawa, Ontario, the Rideau Carlton racetrack.
Mohegan Gaming & Entertainment, an enterprise of the Mohegan Tribe of Connecticut,
Last year added a planned South Korea gambling resort to the list of casinos and racetracks it owns or manages in Atlantic City,
Pennsylvania, Connecticut, Louisiana and Washington.
The Poarch Band of Creek Indians of Alabama last year partnered with the Washoe Tribe of Nevada in opening the Wa She Shu Casino in rural Gardnerville.
The band also acquired the Marriott Resort & Stellaris Casino in Aruba and a greyhound track and poker room in Florida.
Laguna Development Corporation, the economic arm of the Pueblo of Laguna in New Mexico,
Earlier this year purchased the Isle of Capri Casino Hotel Lake Charles in Westlake, Louisiana.
ABOVE Beyond And Global Gaming Solutions, an enterprise of the Chickasaw Nation of Oklahoma,
Purchased Remington Park racetrack in Oklahoma City and owns 49 percent of Lone Star Park in Grand Prairie, Texas.
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