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Seminole Tribe keeps low profile in Vegas



Printer Friendly VersionPost a CommentTell a Friend about this Article02 March 2008
As reported by: Hotels Magazine
The Seminole Tribe, which operates seven casinos in Florida and purchased the Hard Rock restaurant chain in 2006 for nearly $1 billion, has become the envy of Las Vegas casino operators.

While Vegas slots generally turn a daily profit of about $100, Florida slots, which actually are electronic bingo devices, make from $400 to $500 a day. They are among the nation's most profitable - and that's before taking into consideration that the tribe, operating on reservation land, doesn't pay state and federal taxes as commercial casinos do.

No wonder, then, that developers from Las Vegas and around the world have approached the Seminoles, arguably the nation's most economically successful tribe and one of the first to get into the gambling business, to build major resorts.

More recently, developer Triple Five approached the Seminoles about purchasing about 40 acres the company owns across from Mandalay Bay on the Las Vegas Strip.

The tribe said thanks, but no thanks, Seminoles spokesman Gary Bitner said.

"People are coming to the tribe with a variety of opportunities because they're aware of how successful they are. But there's nothing on the table right now in Las Vegas" besides the recent opening of a second Hard Rock Cafe restaurant near MGM Grand on the Strip, Bitner said.

The tribe acquired more than 120 Hard Rock Cafes and a few Hard Rock-brand hotels when it purchased the Orlando-based restaurant chain. The Hard Rock Hotel & Casino in Las
Article By: Hotels Magazine

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