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Strategies & Market Trends : Sharck Soup

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To: Sharck who wrote (30394)7/10/2001 8:20:10 AM
From: Jim Spitz  Read Replies (1) of 37746
 
Lakes Gaming, Nipmuc Nation plan partnership

Tuesday, July 10, 2001

Lakes Gaming Inc. said Monday that it has agreed to partner with the Nipmuc Nation of Massachusetts on a potential casino resort in the eastern United States.

The Bureau of Indian Affairs must give final approval for the project. If received, the Nipmuc Nation would have to put land in trust and come to a gaming agreement
with the state on the location of the land before building the casino resort.

The Nipmuc Nation's aboriginal lands once extended from southern New Hampshire west to Springfield, Mass., and south into Connecticut and Rhode Island. Most of
its more than 1,600 enrolled members live in central Massachusetts.

"While there is no assurance that the Nipmuc's efforts will be successful, we are confident that a well-planned destination casino resort development would provide
tremendous resources and benefits to the nation, its people and those in surrounding communities," said Lyle Berman, Lakes chairman and CEO.

The agreement between the Nipmuc and Lakes calls for a seven-year management contract with a buyout option by the Nipmuc at the end of the first four years.

-- Associated Press

© Copyright 2001 Star Tribune. All rights reserved.
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