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Arizona Tribe Secures Funding for California Tribal Casino

15 July 2004

CALIFORNIA – As reported by the San Diego Union-Tribune: "The Santa Ysabel band of Diegueño Indians secured funding from an Arizona tribe to build a $30 million, 70,000-square-foot casino on its reservation in the Volcan Mountains.

"Yavapai-Apache Gaming, a finance and management company of the Yavapai-Apache Nation, agreed to provide a short-term loan to pay for the immediate costs of building the casino, in addition to co-signing on a larger bank loan.

"…The Yavapai-Apache Nation, with nearly 1,900 tribal members, is gaining a prominent presence in the growing market of casino financing.

"The tribe opened Cliff Castle Casino, about 50 miles south of Flagstaff, Ariz., in 1995. It includes an 82-room lodge, a bowling alley and four restaurants. After financial success, Yavapai-Apache began to help other tribes to develop similar projects.

"In San Diego County, Yavapai-Apache is set to finance casinos for Santa Ysabel and the La Posta band of Kumeyaay Indians.

"Fred Sanchez, president of Yavapai-Apache Gaming and vice chairman of the tribe's council, said he predicts a trend of more tribe-to-tribe business activity, instead of tribes seeking funding from large corporations…"

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