The estimate given in the One Feather was $250,000,000. Not a small chunk of change by any measure. Enormous as that number seems, would you believe that, that number, was just a small fraction of the money that exchanged hands in the sports betting industry last year?
Sports betting produces revenue in the billions each year. Then, with that information and a business partner (Harrah’s) that already has years of experience in this industry. Not counting that sports betting is already covered in the compact we have with the state under Class III gaming. Wouldn’t it make perfect sense to ask, “What in the world are we waiting for?”
We’ve already invested upwards of a billion dollars into our gaming industry. Why then, when opportunity arises that could produce a very nice return on our investments, do we not jump to capitalize on this?
Get on the internet. Check the numbers. In the gaming industry, sports betting might not be the goose that laid the golden egg, but it could very well be one of the eggs.
Harold R. Rattler
Editor’s note: The One Feather published an article in the June 26 edition titled “Tribal, gaming officials break ground on new Convention Center”. While the figure used in this letter to the editor is correct in the amount, the author of the letter incorrectly infers that the number was stated as a total estimate of cost for the project. The amount reported was actually about a line of credit for the project. An excerpt from the article reads as follows: “Tribal Council approved Ord. No. 567 (2016) last August that gave TCGE (Tribal Casino Gaming Enterprise) authority to enter into the Fifth Amended and Restated Loan Agreement with Wells Fargo Bank for the funding of the project including a $250,000,000 delayed draw term loan facility for the construction of the expansion.”