The efforts of the leading gaming and hospitality company, Cherokee Nation Entertainment (CNE), toward securing a casino gaming license for Pope County from the Arkansas Racing Commission (ARC) continue. Earlier this week, the company confirmed it resubmitted its application with the gambling regulator. Ultimately, CNE is after securing a casino gaming license that would permit the development of a massive project called Legends Resort and Casino Arkansas.

CNE’s project has a price tag of more than $300 million. The ambitious project, planned for development in Pope County, is expected to create thousands of direct and indirect jobs. At the same time, Legends Resort and Casino is expected to generate $5 billion in economic stimulus to Arkansas for the first decade of operating.

The proposed project is expected to offer a hotel with 200 luxury rooms, as well as additional amenities, including a spa, a pool and spaces that can be used for special events, concerts or meetings. Not unexpectedly, Legends Resort and Casino is expected to offer supreme gaming entertainment with its 50,000-square-foot casino floor. The venue would become a home to a sportsbook, a poker room, as well as nearly three dozen table games and 1,200 of the most popular slot games.

“Legends Resort & Casino Arkansas, operated by Cherokee Nation Entertainment, represents an over $300 million investment that will provide a welcomed economic anchor for Pope County, the River Valley and the state of Arkansas,“

reads a statement released by Cherokee Nation Entertainment

The Company Is Ready to Commence Construction

Mark Fulton, CNE’s president, spoke about the importance of collecting community feedback. He explained that the company’s project is ahead of the competition considering that its team “listened to the community” and also engaged in voluntary work. “Once the casino license is awarded, we expect to commence the 18-month construction process after 60 to 90 days of permitting and pre-construction work,” added Fulton.

Finally, CNE’s president confirmed that the company is ready to meet its obligations under the development agreement with Pope County once the license is awarded.

“For the past five years, we have been laying the groundwork for this one-of-a-kind, shovel-ready commercial casino resort and becoming engrained in the local community.“

Chuck Garrett, CEO at CNE

Chuck Garrett, CNE’s CEO, added that the company is ready to commence the construction of Legends Resort and Casino. He spoke about CNE’s efforts in securing a Large-Scale Development permit from the City of Russellville.

Additionally, Garrett acknowledged the importance of purchasing 325 acres of land and the support for the company from Pope County leaders. Finally, the CEO said that CNE is looking forward to securing the casino license from the Arkansas Racing Commission.

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For more than a decade, the Sault Ste. Marie Tribe of Chippewa Indians (SSM Tribe) has been making efforts to expand its land-based presence with the development of two new casinos. While the Tribe currently operates five Kewadin Casinos around Michigan’s upper peninsula, it has been pursuing expansion to Lansing and New Boston.

The efforts of the SSM Tribe included purchasing land at the two aforementioned locations back in 2012. At the time, the Tribe purchased 2.3 acres of land in Lansing, as well as 71 acres in New Boston. Ultimately, the land was expected to be used by the Tribe for its new casinos which are expected to bring economic stimulus.

According to the SSM Tribe, the land for the two sites was purchased via its Self-Sufficiency Fund. While the Tribe asked the US Department of Interior (DOI), to take the land into trust, which is required for the building of casinos, the agency refused to do so. Citing the Michigan Indian Land Claims Settlement Act (MILCSA), the DOI rejected the request of the Tribe to take the land into trust in 2017. At the time, the agency explained that per MILCSA, the tribe cannot use the Self-Sufficiency Fund for gambling activities.

The Legal Fight Continues

Disagreeing with the DOI, the SSM Tribe launched a lawsuit in 2018. It said that the agency’s decision was in breach of the MILCSA and may stifle its further growth and welfare. However, the DOI’s decision was later reaffirmed by US District Judge Trevor N. McFadden.

However, as announced by PlayMichigan, the SSM Tribe hasn’t given up on the legal fight. The latest episode of the legal saga saw the Tribe raise the matter with the DC Circuit Court. In its legal claim, the SSM Tribe asked the Circuit Court to overturn McFadden’s ruling that reaffirmed the DOI was correct to reject taking the lands into trust under MILCSA.

If the DC Circuit Court overturns the ruling, the Tribe may finally achieve an important milestone in the planned expansion of its land-based portfolio. In case this happens, the land must be taken into trust, paving the way for the development of the Tribe’s two new venues planned in Lansing and New Detroit.

Elsewhere in Michigan, last month, Fanatics Betting and Gaming rolled out its iGaming and sports betting application. The launch made Michigan the thirteenth state where Fanatics has established its sports betting operations and the third state where Fanatics Casino is available.

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After legalizing and launching mobile sports betting, New York surpassed markets that have operated for years, bringing record handle and revenues. Amid the growth of the popularity of mobile wagering, lawmakers in the state proposed expansion for the retail gambling sector. Earlier this year, New York lawmakers approved a plan that proposes the creation of up to three new downstate casinos. The proposed locations include Westchester County, New York City, as well as Long Island.

Identifying the potential of the market, many leading gaming companies have already joined the race for a downstate casino license. Las Vegas Sands (LVS), the leading developer and operator of integrated resorts, is one of the companies that joined the race for a New York casino license.

Rob Goldstein, LVS’ CEO, discussed the company’s latest financial results at an earnings call last week. At the time, he spoke about strong Q3 financial results and reaffirmed LVS’ plans to pursue a license in New York. The area where the company anticipates building an integrated resort in Nassau County. Overall, LVS plans to use nearly 100 acres for its new resort and that area includes the Nassau Veterans Memorial Coliseum.

New York Casino Resort Represents a $5bn Investment

Goldstein explained: “We have secured the Nassau Colisino and the process of gaining necessary selling requirements to move forward.” He revealed that the local community supports the company’s project and hinted that the new integrated resort may cost north of $5 billion. Still, Goldstein said that this billion-dollar investment enables the company to deliver supreme entertainment and amenities. Finally, he acknowledged that the project represents a unique opportunity for LVS.

“The resort will cost in excess of $5 billion, but enables us to develop a five-star resort with unlimited appeal. This is simply an extraordinary opportunity.“

Rob Goldstein, CEO at Las Vegas Sands

Patrick Dumont, LVS’ president and COO, also participated in the recent discussion. Speaking about the company’s cash flow, he outlined that LVS is “sitting at about $5.6 billion worth of cash systemwide.”

“We’ll be able to do our concession commitment to Macao and then we’ll have excess capital and we’ll pursue New York, and we’re going to pursue other growth opportunities in new jurisdictions, and we’ll be able to do it all because of the timing of the cash flow, the cash we have on hand and the cash tentative nature of our assets.“

Patrick Dumont, president and COO at LVS

Dumont praised LVS’ operations in Singapore and Macau, explaining they continuously generate cash. Considering the current cash flow, he predicted that the company would be able to continue to invest in its Macau operations while at the same time proceeding with the casino license bid in New York. Dumont did not rule out further investments and pursuing opportunities in emerging markets.

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