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After two decades of legal battles, Acorn Ridge to open on February 23 with gaming floor to open a day later
The official grand opening of Acorn Ridge Casino, an exciting new entertainment, dining and hospitality destination in Amador County, in Northern California, about 35 miles southeast of Sacramento, will take place on February 23. The casino will open to the general public on February 24.
Located in the heart of the Sierra Foothills, the grand opening event will feature a ribbon-cutting ceremony, remarks from the Ione Band of Miwok Indians Tribal Council, and a celebratory drone show. It follows nearly 20 years of legal disputes and regulatory delays for the project.
The long-anticipated Acorn Ridge Casino will offer customers a fresh approach to the traditional casino experience, one that is rooted in comfort, openness and exceptional service. The 60,000 square foot property boasts a vibrant outdoor entertainment venue, 484 state-of-the-art slot machines, 12 table games and farm-to-fork dining at the casino’s flagship restaurant, Stone Creek Kitchen.
“With this new venture, we will be able to positively impact the lives of our citizens, create new jobs and support the Amador County community we have been proud to call home for thousands of years,” said Sara Dutschke, who chairs the Ione Band of Miwok Indians.
Its owners, the Ione Band of Miwok Indians, secured a $110m delayed draw term loan facility from Gaming and Leisure Properties (GLPI) to develop the facility.
“This transaction represents the first time that a REIT has provided both project financing and/or a long-term lease option to a Tribe for purposes of direct investment in a gaming asset on Tribal trust lands,” Dutschke added.
“The Tribe is pleased to have found a partner in GLPI who placed their trust in the Tribe, supporting our efforts toward self-determination and self-sufficiency through the financing of the construction of Acorn Ridge Casino, a Tribal enterprise two decades in the making.”
“We are proud to be part of this innovative financing structure and hope that our work with GLPI to successfully bring this transaction to a close provides new long-term financing opportunities for tribes across the nation,” Dutschke said.
“We appreciate the opportunity to assist the Ione Band of Miwok Indians with construction financing for the development of Acorn Ridge Casino,” GLPI Chairman and CEO Peter Carlino said.
“We believe this lease structure offers tribes an efficient alternative to access long-term capital in Indian Country, and in this instance, the long-term lease could potentially be used to expedite the expansion of Acorn Ridge.”
Acorn Ridge will be the third tribal casino in Amador County, along with Jackson Rancheria and Harrah’s Northern California.
