Mashantucket Pequots Partner With Foxwoods Resort Casino

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PRESS RELEASE

June 07, 2016

The Mashantucket Pequot Tribal Nation announces its plans for the development and operation of a Foxwoods-branded, casino resort, to be located at Biloxi Pointe in historic Biloxi Mississippi. Through a new strategic partnership —the Mashantucket Pequot Gaming Enterprise will partner with Biloxi Boardwalk Ventures, LLC, Chris Ferrara-Sponsor, and with The Hartmann Group, LLC; the resort's project management company.

"This is an exciting opportunity to not only expand geographic diversification for the Foxwoods brand, but also leverage our management expertise well beyond New England," says Rodney Butler, Chairman of the Mashantucket Pequot Tribal Council.

"Biloxi Mississippi is a proven destination tourism market, with its near-perfect, year round climate, casual coastal vibe and exciting nightlife—all of which provides a perfect location to feature our world-class entertainment offerings," says Felix Rappaport, President & CEO of Foxwoods Resort Casino.

The new Foxwoods Resort Casino at Biloxi Pointe will be a $265 million premier, service-centric destination resort and casino located on a 23-acre site in the Back Bay area of Biloxi Mississippi. Easily accessible from the metropolitan regions of New Orleans, Birmingham, and Atlanta, the casino resort will deliver an unparalleled gaming, leisure and meetings experience to the 9 million people living within the 300-mile radius market spanning Mississippi, Louisiana, Alabama, Georgia and Florida.

Biloxi Boardwalk Ventures, LLC, Managing Member Chris Ferrara said, "The agreement with Foxwoods and The Hartmann Group fulfils a dream to develop this site and stimulate economic development by creating thousands of new construction and service jobs for the residents in the East Biloxi and regional communities".

Spanning 23 acres of Biloxi Bay's pristine shoreline, Foxwoods Resort Casino at Biloxi Pointe will employ several thousand regional and local residents in construction, resort and gaming operations. When completed, the 781,000 square foot full-service complex will feature both gaming and non-gaming amenities, including approximately 50,000 square feet of casino space, a 500-room hotel and 71,000 square feet of meeting and exhibition space, along with a variety of authentic, regional dining options, retail, spa and outdoor entertainment attractions.

"We're encouraged by today's announcement of preliminary plans for a new resort development in east Biloxi," said Biloxi Mayor Andrew ‘FoFo' Gilich, " Chris has been working on this for many years and the partnership with the Mashantucket Pequot Tribe will certainly energize this project. This development has an opportunity to strengthen the Biloxi gaming market by adding a dynamic new resort that will help attract new visitors to the area. I'm eager to see their final design plans they are considering to help grow the market." Gilich added that the Biloxi Pointe development will enable the 5th Street extension to U.S. 90 and complete the "Casino Loop" to Back Bay that has been envisioned for years. "This investment confirms what we have always felt," added Gilich. "That Biloxi is the ‘right spot'".

Foxwoods Resort Casino at Biloxi Pointe Sponsor Chris Ferrara and his Senior Management Team of Bill Kilduff, Stephen Turpin, Jr. and Keating Consulting, LLC, were advised by El Segundo, California, based TFA Capital Partners in its initial selection of The Hartmann Group, LLC as manager and subsequently advised Mr. Ferrara on the addition of the Mashantucket Pequot's as co-manager with The Hartmann Group, LLC and as a strategic equity investor. Going forward, TFA Capital Partners will principally focus on the raising of additional equity and junior debt capital to complete the financing package.

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