Station Casinos’ Gun Lake Indian Casino project is rolling again after tribal officials secure a load to continue funding construction.
According to reports, the Gun Lake Band of Pottawatomi Indians have been approved for a $165 million loan arranged by the banking and securities firm of Goldman Sachs.
As of the end of 2009, Station had put up an initial investment of more than $53 million for the development of the casino as the tribe’s management company. However, construction came to a halt as funding ran out.
With the resumption of construction, the 83,000-square-foot gaming facility is slated for a January 2010 opening.
Their original plan to open this fall will be unable to be meet due to the delay in development.
“We’re going to shoot for January,” said John Shagonaby, chief executive of the Gun Lake Tribal Gaming Authority. “It’s all an estimate at this point. Once we get a couple of months into construction, we’ll be able to have a better idea.”
The casino is expected to house about 1,400 slot machines and about 28 or so gaming tables. For the casino opening, they expect to employ nearly 600 workers.
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