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Agreement with the Mohegan Tribe and
Paskenta Band of Nomlaki Indians
The proposed Cowlitz casino is being developed and, if approved by the Department of the Interior, would be managed by Salishan-Mohegan, a partnership created in 2004 by the Mohegan Tribe of Connecticut and Seattle-based developer and Cowlitz Tribe member David Barnett. A third tribe became involved with the project in 2008, when Barnett sold part of his share to the Paskenta Band of Nomlaki Indians of California.
According to the development agreement, Salishan-Mohegan would receive fees equal to 3 percent of total project costs. The management agreement states that Salishan-Mohegan would manage, operate and maintain the casino-resort for seven years and earn 24 percent of annual net revenues.
Ownership of the 24 percent stake in the project is 49.15 percent Mohegan Ventures-NW (a subsidiary of the Mohegan Tribal Gaming Authority), 7.85 percent Mohegan Tribe and 43.00 percent shared by Barnett (Salishan Company) and the Paskenta Band of Nomlaki Indians.
The Cowlitz partnership with the well-known Mohegan Tribe, owner of the second-largest casino in the country, grabbed the attention of Forbes magazine, which reported in its June 20, 2005, issue, "the Mohegans could clear $12 million in a one-time development fee, plus another $25 million in revenue per annum for seven years from the casino operations." That is $175 million over seven years.
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