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Casino Secures $340M Construction Financing

EMMETT TOWNSHIP, MI-FireKeepers Casino is expected to open in the summer of 2009 at 11 Mile Rd. near Interstate 94 here.

By Gina Kenny | Updated on May 08, 2008

EMMETT TOWNSHIP, MI-The FireKeepers Development Authority has closed on a $340-million senior secured note for the construction of the FireKeepers Casino near Battle Creek, MI. The Nottawaseppi Huron Band of Potawatomi Indians in partnership with Full House Resorts Inc., based in Las Vegas, is developing the casino at 11 Mile Rd. near Interstate 94, here.

The note is due 2015, according to a released statement by Full House Resorts. Representatives from Full House did not return a phone call seeking comment. The yield for the note sale was reportedly 13.9%.

Nearly a year ago, the Michigan Supreme Court ruled that the Nottawaseppi Huron Band of Potawatomi Indians could build a $275-million casino here, with plans for 2,500 slot machines, 90 table games, 20 poker tables and restaurants. It will also have a total of 2,500 parking spaces, including a 2,078 space parking garage.

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