Management company's likely bankruptcy won't delay construction
WAYLAND TOWNSHIP - The Gun Lake Band of Pottawatomi are reportedly preparing to
publicly announcement soon about their schedule for groundbreaking and
construction of their $200 million casino despite the pending bankruptcy of
their management company, Station Casinos Inc.
The Associated Press has reported that Station Casinos will file for bankruptcy
within weeks. That setback could impact the tribe's ability to secure
construction financing from banks, which have recently tightened their lending
In addition the banks may have concerns about saturation of the casino market as
the FireKeepers Casino will soon open its doors and the Four Winds Casino in New
Buffalo is relatively new.
There is also an outside chance that a pending lawsuit could concern the
lenders. A suit filed by former Wayland Township Trustee David Patchak last year
is still active in federal Circuit Court in Washington, D.C., and the judge is
expected to rule within a few weeks on whether the case should continue. The
suit was intended to stop the federal government from taking the land for the
casino into trust for the tribe however, the land was transferred into trust
last January. Therefore, the case may be dismissed
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