Price tag rises for Agua Caliente casino hotel

Monday, November 20, 2006  

The rising price of materials has driven up the cost of the new hotel at the Agua Caliente Band casino.

The tribe said the 16-story hotel at the casino in Rancho Mirage would cost $185 million. But fluctuations in the price of steel and other building materials has driven it to $210 million.

The tribe isn't pulling back, however. Construction is ongoing, and the tribe recently sold $230 million in bonds to finance the project.

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