Legends Sun Team
Combining the expertise of three companies with extensive experience in casino gaming, retail and entertainment development, golf course, residential and master-plan community development has led to the creation of this highly qualified team. With their respective strengths, this development team is poised to deliver a project that will become the preeminent tourist destination, adding another exciting element to the vibrant entertainment and retail landscape that has rapidly developed in this corridor.
MTGA Gaming, LLC is a wholly-owned subsidiary of The Mohegan Tribal Gaming Authority (“MTGA”), which is an instrumentality of The Mohegan Tribe of Indians of Connecticut, a federally recognized Indian tribe with an approximately 507-acre reservation situated in southeastern Connecticut, adjacent to Uncasville, Connecticut. Mohegan Sun is one of only two legally authorized gaming operations in New England offering traditional slot machines and table games.
Mohegan Sun draws approximately 11 million visitors annually, who spend an estimated $352 million in the state’s economy over and above monies spent on gaming. Mohegan Sun is one of the five largest employers in Connecticut, with approximately 10,000 employees and an annual payroll of approximately $340 million. Studies indicate that Mohegan Sun supports approximately 24,000 direct and indirect jobs in Connecticut each year. Mohegan Sun pays more than $200 million annually in slot machine revenue taxes to the State of Connecticut, and supports over 1,500 Connecticut businesses through the purchase of some $260 million in goods and services each year.
Through its wholly-owned subsidiary, Downs Racing, L.P., MTGA also owns Mohegan Sun at Pocono Downs, a gaming and entertainment facility offering slot machines and harness racing in Plains Township, Pennsylvania, and several off-track wagering, or OTW, facilities located elsewhere in Pennsylvania. Mohegan Sun at Pocono Downs is operated under commercial licenses granted to MTGA and its subsidiaries by the Pennsylvania Gaming Control Board and the Pennsylvania Harness Racing Commission. In 2006, the combined gaming revenues of Mohegan Sun and Mohegan Sun at Pocono Downs equaled $1.28 billion and non-gaming revenues equaled $268.6 million. For the fiscal quarter ended June 30, 2007, the combined gaming revenues of Mohegan Sun and Mohegan Sun at Pocono Downs equaled $371.1 million and non-gaming revenues equaled $68.5 million.
Formed in 2005, Olympia Group, LLC, is the gaming development division of the Olympia Group, whose subsidiaries and related entities include the successful 2,700-acre Southern Highlands master-planned community, as well as some of the most desirable and high-profile real estate and mixed-use projects in the Las Vegas area.
Spearheaded by prominent real estate developer Garry Goett, the formation of a gaming arm reflects the natural evolution of the company that opened the successful Casino Fandango in Carson City in 2003 and has operated the property to four successive profitable years. In October 2005, Olympia Gaming received approval from the Clark County Board of Commissioners to develop the Southern Highlands Casino Resort Spa, a $1 billion, 70-acre mixed-use resort project.
Olympia Gaming is in the planning stages of a number of large-scale developments throughout the state, including a 250-acre mixed-use development located on the South Strip in Las Vegas.
In conjunction with RED Development, Olympia Gaming recently announced the construction of a 14-acre lakefront casino-resort-spa destination in Sparks, Nevada. The $800 million Legends Marina Casino-Resort-Spa project will break ground early next year, with a projected completion date of late 2009. Olympia Gaming’s extensive casino development and operations expertise positions the Olympia Group as one of the few multi-faceted development corporations capable of overseeing all aspects of a mixed-use real estate and master-planned gaming project. Olympia Group is a dynamic and diverse development company that is recognized as one of the largest developers in Nevada with experience in developing retail, golf and master-planned residential communities.
The Olympia Group of Companies includes:
- Olympia Gaming
- Olympia Land Corporation
- Southern Highlands Golf Club
- Olympia Development Corporation
- Olympia Management Services
- Southern Highlands Realty
- Olympia Outdoor Media
- Southern Highlands Charitable Foundation
- Park Highlands
RED Development, LLC, formed in 1995, develops, leases, manages and owns shopping centers in rapidly growing communities throughout the Midwest and Southwest. While the company’s primary focus is on the development of open-air regional shopping centers, better known as lifestyle centers, RED Development has experience with neighborhood grocery-anchored stores, regional power centers, mall re-development and mixed-use projects. With mixed-use development opportunities, RED maximizes projects by combining retail with residential, office and/or hotels. RED also partners with home builders to provide convenient retail and dining destinations within master-planned communities. RED Development targets vibrant, growing communities for its one-of-a-kind development projects.
RED Development has the ability to create unique destinations that are frequented by millions due to the experience it creates with its tenant mix, architectural design, lush landscaping and community events. RED Development forms strong relationships with its tenants, allowing the company to perform repeat deals with its clients. RED Development’s growing tenant list includes Ann Taylor Loft, Anthropologie, Barnes & Noble, Coldwater Creek, Crate and Barrel, Gap, H&M, The Limited, P.F. Chang’s, Pottery Barn, Scheels All Sports, Williams-Sonoma and Target.
RED Development contributes strong regional knowledge and a proven reputation for creating world-class retail and entertainment destinations, including the successful Legends at Village West shopping complex. Since 1997, RED Development has completed more that 15 projects that span more than 7 million sq. ft. of retail and entertainment space.
Olympia Gaming and RED Development have a proven history and strong working relationship, having partnered on the development of other properties including the Legends at Sparks Marina destination resort that, is currently under construction and scheduled to open in late 2009.
With their respective strengths, this development team is poised to deliver a project that will be the preeminent tourist destination in the region; one that will offer a premier Las Vegas-style casino experience along with a destination resort with amenities that are projected at a four-star, four-diamond level that will appeal to tourists and locals alike.