It's just not smart.'įor many tribes, casinos are what have made just about any economic development possible, but it's a revenue source that's threatened. 'It's never a safe bet to put all of your eggs in one basket. He says the company invests in businesses all over the county, and the new mantra is to 'diversify.' 'We're tasked with the obligation and responsibility to invest it in a wise manner to build the asset base of the tribe and also to insulate the tribe from any future decline in gaming dollars or something that would impact that industry,' Allis says. He says they are 'occasionally funded' from some of the profits that derive from the gaming facility.
a $60 million tribal holding company started in 2003 with profits from the tribe's downtown Milwaukee casino. In Wisconsin, Kevin Allis chairs the Potawatomi Business Development Corp. In 2011, Ho-Chunk reported revenue topping $250 million. Companies include everything from construction firms to a marketing and advertising company. In Nebraska, the Winnebago tribe owns more than two dozen businesses that operate in several states and overseas through a holding company called Ho-Chunk Inc. Like the Mille Lacs Band in Minnesota, tribes around the country are looking to grow revenues.
