Gaming Strategy
Featured Stories
Legal News Financial News Casino Opening and Remodeling News Gaming Industry Executives Search News Subscribe
Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter!
Search Our Archive of Gaming Articles 

Alaskan Tribe Approved from Nevada Casino

21 June 2002

NEVADA – As reported by the Reno Gazette-Journal: "Nevada gambling regulators voted unanimously Thursday to approve a complex agreement letting 7,000 Alaska American Indians profit from a $500 million Las Vegas-area hotel-casino.

"The agreement allows the Cook Inlet Region Inc., representing the Indians, to receive gambling profits from a 350-room Ritz-Carlton resort being built at Lake Las Vegas in suburban Henderson.

"The agreement resolves conflicting federal and state requirements, balancing Nevada gambling law and the rights of the Alaskan native shareholders in their Anchorage-based company.

"…Regulators had been told that the Cook Inlet company was established under authority of Congress, and that the federal act requires all shareholders to receive equal dividends.

"But company President Carl Marrs said some members of the corporation are in prison and could be found unsuitable by Nevada officials.

"Nevada law, designed to weed out mob influences, prohibits unsuitable persons from receiving gambling earnings.

"…The agreement also says that if a shareholder is found unsuitable, gambling profits from the hotel-casino can't be disbursed to shareholders until the issue is resolved.

"…The casino will be operated by Sybro LLC, headed by Nevada gambling industry veterans Dan Reichartz and Dan Scott…"

< Gaming News