Milestone Purchase for Las Vegas Tribal Casinos

The purchase of a casino resort just off the Las Vegas Strip by a California-based Native American tribe is being hailed as a milestone in the history of Indian casino ownership in the city at the epicenter of American gambling. CEO of San Manuel Band of Mission Indians, Laurens Vosloo, shared his take with the Las Vegas Review-Journal.

He was quoted as saying that everyone wants to be in Las Vegas. He also made a statement post the announcement that was scheduled last week.

He mentioned how there is a deal that is set to see the light of the day with Palms Casino Resort being sold for 650 million dollars. The resort is held by Station Casinos, one of many casino operators based in Las Vegas.

Considered as the holy grail of the gaming world, in better terms, as the “Mecca,” Vosloo stated how it is only right to boast of an asset at the very location.

A good fit that could see future contributions to the economy and where they can send their customers and be a part of the community at Las Vegas.

A breakthrough is set to be achieved in the latter half of the year when the deal is set to be closed. One that will entitle being the second tribal enterprise to the San Manuel Band all across the resort corridor in Las Vegas.

A former hard rock resort that has been revamped opened its doors in March. Situated some pockets away on the eastern side of the Strip, the Virgin Hotels Las Vegas boasts of the brand-new entrant named “The Mohegan Sun Casino.”

A namesake property for gambling operations in the hands of the Mohegan Tribal Gaming Authority based in Connecticut is situated halfway in the vicinity of New York and Boston. 

A Seminole Tribe of Florida-owned entity called the Hard Rock International occupies the third position and has shown interest in buying the Las Vegas Strip property. One that had earlier acquired the rights way back in 2020 for the Hard Rock brand in all of Las Vegas.

A consultant for “The Strategy Organization,” Josh Swissman, mentioned how credibility and a vote of confidence are earned if one boasts of their profile of working in or near the Las Vegas Strip. One that gives an edge and a benefit for their earlier association to all the three tribal operators. This was as reports received by the Review-Journal.

The 1970s saw the culmination of several native American tribes in the U.S. Those that started their gambling operations and bingo halls. The establishment of the oversight structure following the Indian Gaming Regulatory Act of 1988 saw the expansion of operations. 

A whopping 45 percent of the revenues generated from gambling in the U.S. was recorded from the tribal operations in the twenty-eight states.