Tuesday, July 1, 2008

Tribe's Casino Partner In Kansas Project Leaves Group

Feather News

The Mohegan Tribe filed today with the U.S. Securities and Exchange Commission to report that one of their partners las left their group that is vying for a casino in Kansas.

The Mohegan Tribal Gaming Commission, through an subsidiary called Mohegan Resorts Kansas acquired the interest held by Olympia Gaming-KC in a $792 million proposed casino for Wyandotte County-Kansas City. The Tribe now owns two-thirds of the venture, called Leg Sun, while the other third is owned by Kansas City based-RED Leg Sun.

According to the filing, Mohegan Resorts Kansas, LLC is a wholly owned subsidiary of Mohegan Resorts, LLC, which is in turn wholly owned by Mohegan Gaming & Hospitality, LLC, a joint venture between The Mohegan Tribe of Indians of Connecticut and MTGA Gaming, LLC, a subsidiary of the Authority.

The cost for buying out Olympia Gaming-KC was not specified.

The group in which the Tribe is a partner is one of five groups seeking to build and manage a casino in the Wyandotte County-Kansas City region under a plan that will create four megacasinos in the state. Out of the six proposals submitted by those five groups for a Wyandotte County casino, only one will be selected. A decision is expected in September.