Posted on 01/27/2021 5:04:09 AM PST by cll
The Mashantucket Pequot Tribal Nation is partnering with a Miami hospitality investment firm to renovate and reopen a new casino at the historic Fairmont El San Juan hotel in Puerto Rico, the tribe announced this afternoon.
The venture is the first casino project outside of the continental United States for the Pequots.
The tribe plans to put $12.5 million into revamping the 15,000-square-foot casino on the 15-acre resort property, which is set on a scenic beach near Old San Juan. The hotel first opened in 1958 and became a regional hotspot in the 1960s after Cuban casinos were shut down by Fidel Castro.
The Pequots’ partner in the project, LionGrove LLC, has already invested $125 million in the resort, first to update the property and then to restore it after Hurricane Maria in 2017. The hotel is part of the Accor Live Limitless chain.
“We are well positioned to deliver new experiences and growth to the island of Puerto Rico,” said Mashantucket Pequot Chairman Rodney Butler.
Butler said the tribe expects the new casino to generate $22 million in annual revenue for Puerto Rico and to create 150 new jobs on the gaming floor alone.
(Excerpt) Read more at hartfordbusiness.com ...
The ship in “Moby-Dick” is named after them. I think they run a casino in CT. Foxwoods?
“Welcome to the Hotel Puerto Rico.”
The original intent of these casino deals was to allow Native Americans to run a profitable business on their tribal lands. Branching out into other areas of the country is basically creating a little mini fiefdoms that are exempt from local and state regulation
The Pequots are not in good financial shape as their Foxwoods Casino in Connecticut has closed their largest hotel tower (old MGM Grand) and their Two Trees Inn. They have made a number of poor financial decisions and carry heavy debt. On the other hand, what lender wants to foreclose on a sovereign nation?
Thank You for the ping.
Or maybe it was, "Where are my kumquats?"
There is a reason so many have never heard of the Pequot tribe. They were massacred by Colonists, Narragansett and Mohegan allies allies back in 1637, a shadow that hanged over Massachusetts for over 200 years.
Then, in 1864, at the height of the Civil War, when Chivington, believing the Cheyenne were instigated by Confederate agents, hit the Cheyennes at Sand Creek, the good citizens of Boston took up a hue and cry for the poor Cheyennes, and smoked the critics off their Pequot massacre.
Now everyone knows about Sand Creek but forget about the Mystic massacre of the Pequots. I hope they do well with their casinos.
Interesting, thanks.
Went to Foxwoods in CT many years ago. Not my thing, but it sure was mobbed with grandmothers pulling the crank.
The Tainos should definitely be represented in this new “Native American” enterprise. As to financial problems, what business has not had them with these Covid shutdowns. Outside my SS and pension income, I have lost 60 to 65% of my rental income, and have no idea when I might get new renters. My daughter-in-law is part Taino. I’ll have to see what she has to say about this.
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