Greyflannel (< 20)

The "Mohegan Sun" Casino but Only 1.5 hrs from NYC

January 24, 2009 – Comments (0) | RELATED TICKERS: MGM , LVS , TRMP

The land in Thompson has been transferred to the Seneca's.

Rotate Black (ROBK: OTCBB) filed an 8-k Friday stating that the 63 acres of land in Thompson, NY, in the Catskills, was transferred to the Seneca Nation of Indians on Jan 17th.  This is a BIG deal as its the first step in the process of getting gaming approval, it adds legitimacy of the project and Rotate Black as a casino management company. 

My understanding is the Nation needs special recognition by the NIGC to qualify for gaming.  This processes is a bit confusing, however, recent events in Buffalo indicate the land in Thompson would qualify for gaming under Federal guidelines.  See the buffalo news article attached. 

From what I gather, the land needs to be within a certain proximity of aboriginal lands.  The wikipedia article attached clearly indicates the land would qualify if the same standards are applied to the Buffalo casino. 

This is a big development!

http://idea.sec.gov/Archives/edgar/data/1020477/000135448809000069/rotate8k.htm

http://www.buffalonews.com/home/story/555456.html 

http://en.wikipedia.org/wiki/Seneca_nation