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San Manuel Strikes a Las Vegas Stadium Partnership Deal

las vegas allegiant stadium san manuel

The NFL’s Raiders are officially coming to Las Vegas for the 2020 season. As the town continues to put the finishing touches on the brand new Allegiant Stadium, excitement for the move continues to build. The actual team is doing better than expected this season. This has increased the excitement as Las Vegas looks forward to become the latest market with a NFL franchise.

Sam Manuel Is On Board For Las Vegas Stadium Deal

Also on board as a principal stadium sponsor is San Manual Band of Mission Indians. Details of the actual sponsorship deal have not yet been announced. However, this will be the second significant partner along with Allegiant’s naming rights.

The federally-recognized tribe is represented by Chairwoman Lynn Valbuena and Chief Executive Officer Loren Gill. The Raiders’ construction subsidiary, Las Vegas Stadium Co. is building the new complex at a total cost of $1.97 billion. The venue is located on Interstate 15 and Russell Road.

The official San Manuel announcement came on Monday, Oct. 14. There was a gathering of more than 50 people at the Raiders Preview Center in Town Square. Raiders’ President Marc Badain presided over the proceedings. The Las Vegas Review-Journal quoted him as saying:

“We’ve talked often about how this project is going to be transformative. Transformative for the city, transformative to this region, transformative to the Raiders. And transformative for those that chose to be part of this project and part of this building.”

Mr. Badain went on to add:

“We’ve had a long history, we’ve been in multiple markets as everyone knows. We like to say that it’s all a part of our DNA. Our history in Los Angeles was a very significant one, a very successful one and we maintain a very strong base in the Southern California area. So much so that a significant portion of our PSL (Public Seat License) holders are coming from that region. It’s a great tie-in and a great brand. San Manuel does wonderful things in that community.”

The San Manuel Casino is located 60 miles east of Los Angeles. A current renovation project at the site is adding a 17-story hotel with 450 rooms. The cost of the hotel is estimated to be $550 million and it is expected to open next summer. There will also be a 3,000-seat entertainment venue along with state-of-the-art retail spaces and a spa.

Part of the sponsor package with the new stadium is expected to include signage along with a luxury box. San Manuel Chairwomen Lynn Valbuena added:

“We look forward to giving our guests more access to thrilling sports and entertainment through this new partnership with Allegiant Stadium and the Raiders.”

Allegiant Travel Co. secured the stadium naming rights in early August of this year as part of a 30 year deal. Allegiant Stadium will also be home for the UNLV Rebels’ football team. It will also serve as the sight for the Las Vegas Bowl and the Pac-12 Championship Game. To date, 95 percent of the available PSL’s have been sold. The team hopes to have the remaining 3,000 seats sold by the end of the year.

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California Native American Indian Tribes Might Sue State Over-Banked Casino Games

California Native American Indian Tribes | Suing State Over-Banked Casino Games?

California tribal gaming operators might sue the state over banked games. They are planning such an action after a declaration by the regulators. The declaration indicates that the controversial banked card games will be wiped out. These games are currently available at the state’s card clubs.

These games are the versions of the Pai Gow Poker or Blackjack. These games have been in conflict for the last six years. A dispute is going on between the powerful tribal gaming operators and state on the validity of these games. The tribal regulators believe that the State is trying to violate the tribal uniqueness on the Class III casino gaming.

The director of the Bureau of Gambling Control, Stephanie Shimazu, issued a September 25 memo, promising that the bureau will cancel the approval for rules for all those games much similar to 21/blackjack. These games are prohibited by State Law and the bureau is planning to cancel all those games similar to the previous one. They are planning to give a specific period to implement the new rules.

As said by CDC Gaming reports, they will notify the cardrooms and will also postpone the enforcement for a time period so that the cardrooms will have time to get prepared for this action.

The Reaction of Cardrooms

The cardrooms are not prepared for the new rules. The cardrooms believe that the games are legal. They employ the shills considering the supply of third-party businesses to get the dealer-player position. They claim that all these procedures make the games legal. California Native American Tribe Casinos says that it is nonsense to nullify these games on the basis of similarity. They also say that a banked game is always a banked game regardless of the type of the dealer.

Steve Stallings, the chairman of the California Nations Indian Gaming Association, told the CDC Gaming Reports, currently, he will try to treat the BGC’s memo in a different way to delay the process for a specific time period. At this point, the delay tactics might help them to satisfy the California Native American Tribe Casinos. They have a stronghold in this industry. They might sue State to protect their interests.

In the current condition, California Native American Tribes operate around sixty-three casinos. In addition, they share hundreds of millions of their profits every year with the local and state government that ensures that dominance in the politics.

What about the Sports Betting

Stallings is also making efforts to oppose “regulate sports betting” when the banking games are still available at the clubs. Meanwhile, California Native American Tribe Casinos operators made it clear that they will oppose a proposed ballot measure that requires bypassing the legislature by enabling the voter to have a word on the legalization of sports betting.

Moreover, many California municipalities get their revenues from the card clubs. The clubs can be more harmful than the tribes. The executive director of Communities for California Cardrooms, Austin Lee, finds it hard to understand how BGC can implement such a policy without consulting public and industry. Any change will make it difficult for the cardrooms to adjust the operations.

A Native American Indian Tribe owns almost every since casino in California, if not every resort. The variations of Pai Gow Poker or Blackjack are important to the revenue of these hotels. While most people think slot machines bring in the most revenue(even though they do) blackjack and Pai Pow Poker are big money makers. We hope that the California Native Amerian Indian Tribes approve the rules for those games much similar to 21/blackjack.
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Buena Vista Rancheria Finances California Casino with High Yield Bond

Buena Vista Rancheria Finances | California Casinos | High Yield Bonds

Buena Vista Rancheria Finances California Casino with High Yield Bond. If you are an avid casino gambler looking for a real money gambling opportunity, then investing in a Native American tribe in California must just fit the bill. In a recent post on Nasdaq.com provided by Reuters, Davide Scigliuzzo goes on to explain how the Me-Wuk Indians have upped the ante on building a new casino with a junk bond investment yielding a return of close to 15 percent.

When Will Buena Vista Rancheria Finance California Casinos?

Buena Vista Rancheria of Me-Wuk Tribe has been trying to put together a plan to build a California casino in Amador County for the last ten years. Things may finally be in place from an investment standpoint following last week’s sale of a $250 million five-year bond. In the report, it is noted by ICE Bank of America Merrill Lynch data that the actual yield on this secured bond offering is 14.425%. Above all, this compares to an average 6.28% yield on US junk bonds.

Riskiest Borrowers Rated Triple C

Also in the information from ICE BAML is data that shows that even the riskiest borrowers rated Triple C or lower are paying an average yield of 10.39% on these types of investments. This specific Buena Vista offering is rated Caa1/B- Scigliuzzo goes on to add, ‘the bond was issued at a deep discount of 95 cents on the dollar. Also, this allows the tribe to keep the coupon at 13%. The capital structure also includes $16 million of subordinated payment-in-kind debt, according to S&P’.

Last Year Native American Indian Tribe Offer 12% For US Junk Bond Market?

Over a year ago, the tribe tried to raise funds through a similar offering that offered a 12% return. Most importantly, this was their first attempt to use the US junk bond market as a means of financing the project. It is common for bond investors to look for higher returns on debt issues from Native American tribes in the casino business. There is the lingering concern of protecting creditors rights in these situations if the tribe goes into bankruptcy.

The Quapaw Tribe of Oklahoma and the Downtown Development Authority

The report cites a situation with the Quapaw Tribe of Oklahoma and the Downtown Development Authority as owners and operators of a real money casino. Earlier this year, they paid a yield of 10.759% to sell a $265 million five-year bond. The main goal of this offering was to refinance existing debt. This plan also ran into some issues from junk bond investors when it was first offered in 2016.

The Competition From Existing California Casinos Are Hurting The Deal

Competition from existing and planned California casinos in a 100-mile radius are also clouding this deal. This report of market conditions was provided by analysts at Moody’s and S&P. They went onto add that branding and other marketing agreements with casino gaming giant Caesars Entertainment should go a long way towards easing these concerns. The new casino will operate under the name Harrah’s NorCal.

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What High Bond Yield Percentage Will Buena Vista Rancheria Finance The California Casino?

With the financing in place, the report cites a target opening date of this new casino sometime in late spring of 2019. The whole project has a construction time frame of 13 months. The overall size of this casino will be more than 70,000 square feet.

The Me-Wuk Indians of California owns the Buena Vista Racheria. For over a decade, they have planned on building a casino resort in Amador Country. However, in mid-2018 another Native Amerian Indian Tribe sells the Me-Wuk Indians of California a five-year bond for over two hundred million dollars.

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