 Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter! Related Links
|
Gaming News
Mashantucket Pequots look to the Caribbean15 August 2007CONNECTICUT -- As reported by the Connecticut Day: "The Mashantucket Pequots' plans to diversify tribal holdings beyond gaming are coming to fruition with the development of resort-style projects in St. Croix and the Bahamas. "In an interview Tuesday, John O'Brien, Foxwoods' president and chief executive officer, said the tribe is in the very early stages of developing resorts in the U.S. Virgin Islands where gaming would be an element but would take a back seat to entertainment and residential development. "The tribe's move toward diversification is part of a larger trend in the region's tribal gaming operations. "...For the Mashantuckets in the Virgin Islands, however, 'nothing is firmed up,' O'Brien said, and the tribe, which filed a gaming-license application in St. Croix, where it owns a stake in 600 beachside acres, back in 2006, is just starting to go through the land-use process. Preliminary plans would include a hotel, casino, marina, golf course and some housing, according to tribal spokesman Bruce MacDonald. The tribe is discussing different types of housing options, including fractional ownership and condominiums, he said. "...To the Mashantuckets, expanding and diversifying are important for two reasons, Foxwoods' O'Brien said. Besides being necessary to protect the original business investment and sustain the tribe, 'From a business perspective, it's important because it reduces your overall risk, it spreads your risk.'..." |