Treasure Island, MGM Grand, 4 Bears? Tribe Tackles the Strip?
A penny saved is a penny earned.
Okay..but what if you put them pennies in a slot machine that paid out big time? Or if people parking put penny, after penny, after penny...in your parking lot complex.
It's not pennies getting spent in Las Vegas, and for the MHA Nation, located in the state of North Dakota, it's actually $12 million they're putting into Sin City. The MHA Nation consists of the Three Affiliated Tribes- the Mandan, Hidatsa, and Arikara. The Tribal group has come upon a considerable dividend as highlighted by INFORUM ...
In the early months of the pandemic, an oil-producing Native American tribe in North Dakota was looking for somewhere to invest a cut of the nearly $1.7 billion in tax revenues they've collected from oil drilling on their reservation over the last decade and a half. They found it in a bankruptcy auction that chopped up a large, vacant property just off the central casino-lined corridor of Las Vegas, Nevada.
Brenda and I made the long stroll past this long time empty lot in Las Vegas and wondered- what was coming next? It appears that the MHA Nation is curious to answer that question for themselves. It's a prime piece of Vegas real estate that would take an enormous amount to develop...or, a less enormous amount to manage.
Tribal Chairman Mark Fox said they could use it to build anything from a tribally operated casino to a parking lot.
“We saw it as an opportunity to get land — prime real estate land — in Las Vegas for a good price, and that’s essentially why we went there,”
Understandably, MHA got them a great price on the real estate but now have to do a great deal of deliberations from here. Do they dive into the Vegas casino business? They've just made significant upgrades to their North Dakota facility, so why not keep up with enjoying the success of their 4 Bears Casino?
There is the changing landscape of North Dakota gaming to keep in mind...The impact of E-tab machines exploded since the beginning of the pandemic. E-tab machines are electronic pull tabs that bear serious resemblance and feel to their casino based brothers. To highlight the threat, let me just say that Bismarck's latest bar opening boasts 10 pull tab machines. That's a lot of machines that appear the same as your casino favorites- BUT they're just right there on your way home from work.
I believe 4 Bears Casino will continue to thrive, but there are new obstacles here at home, but now new opportunities in the Nevada desert? Will the MHA Nation roll the dice and build? Or, choose to generate a steady revenue from their Vegas neighbors? The purchased property is..
located just off the south end of the Vegas strip, the city’s famous commercial and gambling hub, near the 43-story Mandalay Bay casino and just over 1 mile from the newly completed Allegiant Stadium, home to the Las Vegas Raiders NFL team.
What's your advice? Gamble on a big build or put your pennies in pavement?