Tuesday, July 1, 2008

Tribe's Casino Partner In Kansas Project Leaves Group

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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.