Displaying items by tag: MatchEBeNashSheWish Band of Pottawatomi Indians

WAYLAND — Gun Lake Casino today officially broke ground on its $300 million expansion that includes a 15-story hotel and multi-purpose “aquadome” enclosed pool space that will double as a nightlife venue.

Here is the MiBiz Growth Report for April 11, 2022.

WAYLAND — In his four and a half years running Gun Lake Casino, Sal Semola has been an architect of growth in helping the Match-E-Be-Nash-She-Wish Band of Pottawatomi Indians strategically expand and solidify its gaming enterprise.

Gun Lake Investments started 2022 with a permanent CEO in place and plans to become more active in the market.

WAYLAND — Sports betting will kick off at Gun Lake Casino on Saturday with the formal launch of the Wayland-based casino’s new Stage 131 Sportsbook and Lounge.

In mid March of this year, all 24 of Michigan’s tribally operated casinos fell silent, their more than 22,280 slot machines spitting out their final paydays for lucky patrons or taking one last injection of cash for the house.

GRAND RAPIDS — A federal contracting firm owned by Waséyabek Development Co. LLC has begun work on a five-year, $161 million contract with the Department of Energy to provide site operations and support services at three National Energy Technology Laboratory locations. 

This is the MiBiz growth report for April 12, 2020.

Michigan’s 12 federally recognized Native American tribes have been awarded $4.5 million in block grants for affordable housing activities to protect the health and safety of their tribal citizens during the COVID-19 pandemic. 

Twelve Michigan-based Native American tribes will receive nearly $15 million in federal grants to support affordable housing for their communities. 

Michigan officials are still months away from finalizing rules on internet gaming and sports betting, but some Michigan-based Native American tribes are taking early steps to participate in the newly legalized industry. 

More than a decade ago, Grand Rapids business leaders lobbied hard to block the Match-E-Be-Nash-She-Wish Band of Pottawatomi Indians, known locally as the Gun Lake Tribe, from opening a casino near Wayland. 

Groups like 23 is Enough and MichGO drove the narrative that any casino development south of Grand Rapids would “siphon off” jobs and investment from the city’s then-rebuilding downtown, limiting growth in entertainment options and economic opportunity alike. They cited a study commissioned by the Grand Rapids Area Chamber of Commerce in the early 2000s that estimated $880 million of “economic hemorrhaging” in the surrounding counties if Gun Lake Casino were ever allowed to move forward. 

Looking around downtown Grand Rapids today, it’s hard to find evidence that their worst fears were in any way realized. 

GRAND RAPIDS — Tribally owned Gun Lake Investments and Waséyabek Development Co. have jointly acquired McKay Tower in downtown Grand Rapids, MiBiz has learned.

WAYLAND — A 72,000-square-foot expansion at Gun Lake Casino will allow the operation to grow its gaming, restaurant and entertainment options. 

Native American tribes that want to participate in Michigan’s fledgling cannabis industry face many bureaucratic hurdles.

GRAND RAPIDS — Tribally-owned Gun Lake Investments is making an active push into the West Michigan commercial real estate market with an investment in a high-profile redevelopment and three property acquisitions so far this year, MiBiz has learned. 

GRAND RAPIDS — Even when it first acquired Dickinson Press LLC more than three years ago, Blackford Capital saw Brainerd, Minn.-based CJK Group Inc. as a potential buyer.

Blackford Capital’s latest deal brought a new investment partner to the table: Gun Lake Investments, the economic development arm of the Gun Lake Tribe.

Here is the MiBiz Growth Report for March 6, 2017:

• M&A: American Grease Stick Co. of Muskegon was acquired last year by 3 Rivers Capital, a Pittsburgh, Pa.-based private equity firm. A manufacturer of branded automotive fluid transfer lines and related products for the automotive aftermarket industry, AGS has operations in Muskegon and the U.K. The company, which was founded in 1931, sells products through a variety of aftermarket retailers, including Advanced Auto Parts, AutoZone and Pep Boys, according to a statement. 3 Rivers purchased the company for $10 million from the Rosen family, according to a report in the Pittsburgh Business Times. The deal was backed by $9.75 million in subordinated debt and an equity co-investment from PNC Mezzanine Capital. JP Morgan Chase also provided debt financing for the transaction. Metz Lewis Brodman Must O’Keefe LLC of Pittsburgh served as legal counsel to 3 Rivers Capital. The sellers worked with investment banker Stout Risius Ross Inc. of Chicago.