Harrah's Entertainment Selected to Develop and Operate Casino on Native American Lands in California
LAS VEGAS, Jan. 18 /PRNewswire/ -- Harrah's Entertainment, (NYSE: HET) today announced that one of its subsidiaries signed a letter of intent with the Rincon San Luiseno Band of Mission Indians (Rincon) to develop and operate a $100 million casino and hotel project on Rincon tribal land in Southern California. This is the first agreement reached between a California Indian tribe and a major gaming company.
"Rincon's 600 tribal members are seeking the self-reliance and economic development contemplated under Proposition 1A on March 7, 2000," said John Currier, Tribal Chairman. "This project will enable the Rincon people to emerge from poverty and get off the welfare roles. This development will create good tax paying jobs with high quality benefits for the Tribal population and the surrounding communities. The project as currently contemplated will generate approximately 400 construction jobs and 1,200 permanent jobs. The majority of the workforce will be hired from the tribe or local area."
The Rincon tribal land is located near Valley Center, a 30-minute drive north of San Diego, California. This location has convenient access to metropolitan San Diego, La Jolla, Del Mar, Escondido, and Orange County.
"We are thrilled to be selected by Rincon to develop and operate a world-class casino on their tribal land," said Philip G. Satre, Chairman and Chief Executive Officer of Harrah's Entertainment. "We believe this agreement reflects Harrah's excellent reputation with Native American tribes across the country. We have long been advocates of Indian gaming, and we worked hard to build trust and support among these important partners."
"We fully expect the Rincon casino to be the premier casino in Southern California," said John Currier, Tribal Chairman. "The Rincon Tribal Council on behalf of the Rincon Band is pleased to select a company with the reputation, the experience and the resources of Harrah's Entertainment. After evaluating several other companies, we felt that Harrah's commitment to Indian gaming was unparalleled and important in our decision is that Harrah's did not oppose California Proposition 5. We look forward to doing great things together."
The project is dependent upon voter approval of California Proposition 1A, as well as other approvals including the National Indian Gaming Commission.
Harrah's currently operates casinos for the Ak-Chin Indian Community near Phoenix, Arizona, The Eastern Band of Cherokee Indians in Western North Carolina and the Prairie Band of Potawatomi Indians near Topeka, Kansas.
Harrah's Entertainment, Inc. is the most recognized and respected name in the casino entertainment industry operating 20 casinos in the United States. Founded more than 60 years ago, Harrah's is focused on building loyalty and value with its targeted customers through a unique combination of great service, excellent products, unsurpassed distribution, operational excellence and technology leadership. |
