Robert Chicks, Tribal president of the Stockbridge-Munsee Band of Mohican Indians and Len Wolman, managing partner of Trading Cove Associates, say that the initial phase of the casino project will cost approximately $600 million to develop. The complex, which will total about one million sf of space, will feature 150,000 sf of gaming space, 3,000 slot machines and 180 gaming tables. The facility will also feature extensive food and beverage facilities and entertainment-related space. The first phase of the project will not include any hotel or overnight accommodations. The second phase of the project would involve the construction of a 750-room hotel, Wolman says. No start date on phase two of the project has been determined, he adds.

Trading Cove New York is owned by Sun International (50 percent) and the Waterford Group (50 percent) of Waterford, CT. Wolman is also chairman and chief executive officer of the Waterford Group. Trading Cove New York is an affiliate of Trading Cove Associates, the company that developed the Mohegan Sun casino in Connecticut, the nation's second largest casino.

Tribal President Chicks notes, "We are very excited about the agreement between our tribe and Sullivan County. Now that we have the strong support from the county and local community, we can move forward toward obtaining the state and federal approvals necessary to make our project a reality."

He adds the tribe will soon begin negotiations with New York State and file the necessary paperwork to obtain the approvals from the Bureau of Indian Affairs and other federal agencies.

The casino will take approximately 18 months to complete and will create about 2,000 construction jobs during the life of the project. Once the gaming facility is operational, the casino will create about 5,000 permanent jobs, Chicks and Wolman note.