Navajo Nation joins gaming industry
Nearly two decades after the legalization of Indian gaming, the Navajo Nation is scrambling to join the industry. Time and financial strategy are of the essence, said Robert Winter, CEO of the Navajo Nation Gaming Enterprise, during a recent gaming forum at San Juan Community College.
As the Nation moves forward with construction of its first casino near Church Rock on Interstate 40, time and financial strategy are of the essence, said Robert Winter, CEO of the Navajo Nation Gaming Enterprise, during a gaming forum Tuesday at San Juan Community College.
Success can be measured in number of patrons and profit, Winter said. When it is done right, gaming will attract patrons from outside the reservation and bring in a profit margin of at least 10 percent.
Borrowing from a us$ 100 million line of credit extended by JPMorgan Chase, the Nation can build the first of its six planned casinos, Winter said, but the casino’s financial success is paramount if the Nation wants to maintain or increase its borrowing power.