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The Chip Board Archive 23

SLS an Ellis Island-type casino??

According to the news story linked in Joe's post:

"Eight hundred Chinese investors contributed to the project through a government program called EB-5 that gives legal residency in exchange for investment in the U.S. economy.

Fancher stressed to the commission that Chinese investors have no control over the property’s management."

FYI, the EB-5 program requires each foreign national to invest at least $1 million. Seems to say that their collective investment in the project is $800 million (?), as compared to the $815 million acquisition AND renovation costs, if news reports are correct. The $800 million from Chinese investors assumption may be high, if the 800 includes investors plus some family members. Regardless, that's a novel way to finance a big chunk of the project.

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Sls gets gaming license two days ago
SLS an Ellis Island-type casino??

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