Caesars Cuts Deal for $200M Tribal Casino

FRESNO, CA-In the third deal with Native American tribes announced in recent months, Caesars Entertainment Inc. has announced a prelim agreement with the Big Sandy Band of Western Mono Indians to develop and manage a $200-million casino on tribal land near here. Caesars previously announced that it is negotiating development and management agreements with the Pauma-Yuima Band of Luiseno Mission Indians for a casino to be built on Pauma tribal lands in northern San Diego County, CA, as well as plans with the Saint Regis Mohawk Tribe for a $500 million casino resort in Sullivan County, NY.

The deals appear to be representative of the oft adhered to maxim “if you can’t beat ‘em, join ‘em.” A recent earnings announcement by Caesars blames the company’s $84-million fourth quarter loss on $127 million in write-downs caused by “increased competition from Native American casinos.” A spokesman for Caesars was unavailable for comment.

Caesars preliminary agreement with the Big Sandy Band of Western Mono Indians is a recently signed a MoU outlining the terms of the development and management agreements that will govern the construction and operation of the casino project. The final agreements are expected to be completed and signed in the next three months. The casino would be the third to directly serve the Fresno metropolitan area, which has a population of approximately 1.2 million. It would be one mile away from the existing Table Mountain Casino, which is currently planning an expansion, and 15 miles from the Big Sandy Band’s Mono Wind Casino in Auberry, CA.