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The Tribes of the Central Valley have begun the process of turning casino profits into community assets.
"The tribe is using 15% of its profits -- amounting to millions of dollars -- from Chukchansi Gold Resort-Casino to invest in local businesses. Mighty Oak was founded last summer, but made its first local investment last month when it bought an Oakhurst lumber company. It also has invested in apartment complexes across the nation, and it is about to finalize a deal to buy a Clovis commercial construction company."
In this economic climate, it is good for the Tribes to help keep or create jobs in the community. This is good for everybody, yet very little is written about it.
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"The tribe is using 15% of its profits -- amounting to millions of dollars -- from Chukchansi Gold Resort-Casino to invest in local businesses. Mighty Oak was founded last summer, but made its first local investment last month when it bought an Oakhurst lumber company. It also has invested in apartment complexes across the nation, and it is about to finalize a deal to buy a Clovis commercial construction company."
In this economic climate, it is good for the Tribes to help keep or create jobs in the community. This is good for everybody, yet very little is written about it.
More...