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California Casino Plans Might Be Scaled Back24 October 2001SAN PASQUAL INDIAN RESERVATION, California – Oct. 24, 2001 –As reported by Sign On San Diego: "The San Pasqual Indian band is re-evaluating and possibly scaling back its plans to build a $230 million Mediterranean-style resort, the second-largest of several new casinos in San Diego County. "Due to economic uncertainties -- including some prompted by the Sept. 11 attacks -- the North County tribe might opt for a smaller project or build in phases, a top tribal executive said Monday. "`The tribe's goal is the same, to eventually become a destination resort,' said Dave Toler, one of two members on San Pasqual's casino management committee. "…San Pasqual's resort-casino, slated for completion in late 2002, was to have 2,000 slot machines, 70 card tables, seven restaurants and a 250-room hotel tiered in four or five levels. "The Tuscan-themed project, on a 285-acre site overlooking Lake Wohlford near Valley Center, was to include vineyards and a winery, with plans for a golf course, horse trails and a campground. "The estimated cost, initially $180 million, rose to $200 million and later $230 million. "…San Pasqual's current casino has 760 slots, 12 blackjack tables and a 260-seat buffet. It is bringing in up to 3,500 patrons a day, about 80 percent of its projected volume, Toler said. "But it is competing with three other new casinos on the nearby Rincon, Pauma and Pala reservations. And the Pechanga tribal casino, just across the Riverside County line near Temecula, is undergoing a major expansion. "…Toler said San Pasqual's plans also have been affected by global events of the last six weeks. The Sept. 11 attacks prompted much tighter lending practices among major financial institutions, he said. That raises the risk for a long-range, capital-intensive project such as San Pasqual's…" |