Arizona Tribe Contributes To Coastal Casino
Apr 28, 2004
An Arizona tribe has agreed to secure a loan for
the Confederated Tribes of the Coos, Lower Umpqua
and Siuslaw Indians to build a casino outside
Florence. The offer from the Yavapai Apache
Indians allowed the small Oregon coast tribe to
finance the Three Rivers Casino with a market rate
loan from Bank One.
Economic development director Bob Garcia quoted as
saying "the interest rate for this loan is much
lower than any other startup casino in Oregon."
After years of disputes with the city government
of Florence and a citizens' group opposed to a
casino, in a court battle that went to the Oregon
Supreme Court, the tribe broke ground on the Three
Rivers Casino late last year.
The casino is expected to open sometime this
summer and draw on gamblers from the
Eugene-Springfield area.
|