With an exclamation point, Gun Lake Casino tweeted on Feb. 14 it had paid out over $400,000 in jackpots since opening.
At that point the casino had been open for four very busy days. So many people turned out to check out the state's latest tribal gaming establishment police had to close the U.S. 131 off ramps to the casino during parts of its opening day, Feb. 10.
Since then,
updates from the casino in Wayland, about 30 miles north of Kalamazoo, say traffic has been moving smoothly.
Gun Lake Casino opened with four table games: Progressive Fortune Pai Gow Poker, Midi Baccarat, Progressive Let It Ride, Progressive Ultimate Texas Hold'em and 1.400 slot machines.
What does the casino mean for the local economy? After the first year of operation, the tribe estimates the casino will annually generate $9.1 million in tax revenue to the state.
It expects to generate $2.3 million for local municipalities. Another $30 million will be spent in the first year on goods and services needed to operate the facility, most of which will be spent in the area.
The casino went forward in 2010 with $165 million loan arranged by Goldman Sachs. The loan's interest rate is 12 percent for five years. The Gun Lake Tribe has the option to pay off the loan any time after the third year.
Some 750 construction jobs -- for plumbers and pipe fitters, electricians, carpenters and sheet metal workers -- were created over the course of construction of the 76,000-square-foot casino.
So far, more than 700 casino jobs have been created and 1,000 indirect jobs through the hiring of local vendors. The casino has room to expand if demand allows.
Writer: Kathy Jennings
Source: Lisa Bush, Gun Lake Casino
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