Tribe quits casino deal
Thursday, April 24, 2014
SNOQUALMIE Tribe, the American Indian tribe that had invested in a project to build Fiji’s first casino, says it pulled out of the deal because of issues with the developer, One Hundred Sands.
Jaime Martin, the communications and public relations officer for the Snoqualmie Tribe, said the developer was granted an exclusive licence to build and operate casinos in the country, had defaulted on payments due to the tribe, which resulted in their decision to end their involvement in the Fiji project.
“Since 2011, the Snoqualmie Indian Tribe invested with One Hundred Sands to develop a casino experience that would provide first-class entertainment and provide a positive economic impact for the people of Fiji,” he said.
“Unfortunately, One Hundred Sands has defaulted on a $US1.5million ($F2.73m) note which was due to the tribe in February 2014.
“The Snoqualmie Indian Tribe has been patient and co-operative throughout this project.
“We have reached out to One Hundred Sands seeking repayment of this loan but have yet to receive payment.
“We wish the people of Fiji and the project much success.”
One Hundred Sands chairman Larry Claunch said after the deal with the Snoqualmie Tribe fell through, he managed to secure funding through other means.
“We have secured other investors through Tim Manning from New Zealand,” he said.
“Tim Manning is One Hundred Sands investment partner, president and CEO.
“The project is moving forward quickly,” he said.