The Shinnecock Nation of New York and two longtime partners are going into the casino business together.
Marian Ilitch and Mike Malik have already spent more than $1 million on the tribe since 2003, Crain's Detroit Business reported. The money financed the tribe's successful federal recognition bid.
Through Gateway Casino Resorts LLC and Gateway Funding Associates LLC, Ilitch and Malik now plan to develop as many as three casinos for the tribe. The investment could top $1 billion, Crain's reported.
The tribe's federal recognition became final this month.
Get the Story:
Ilitch teams with tribe on N.Y. casinos: Long Island plans could top $1 billion
(Crain's Detroit Business 10/18)
Related Stories:
Shinnecock Nation says community not
interested in casino bid (10/8)
Shinnecock Nation
pitches gaming as a boost to area's economy (9/30)
Shinnecock Nation outlines plans for up to
three gaming facilities (9/29)
Business Deals | New York
Shinnecock Nation still working with backers of recognition bid
Monday, October 18, 2010
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