The net unrealized gains for the six months ended June 28, 2009 consisted of $2.2 million related to the Jamul Casino project with the Jamul Tribe and $0.1 million related to the Iowa Tribe’s Ioway Casino project due primarily to improvement in the credit markets, which resulted in lower required rates of return.Essentially this says that Lakes' accounts believe they'd have been better off (by $2.2 million!) putting the money in the bank than investing it in the Jamul Casino project.
Also in the news is the JAC (Jamulians Against the Casino) lawsuit aiming to overturn Caltran's recent settlement with the Jamul Indian Tribe on environmental grounds. I'm no lawyer, but this sounds like pretty shaky grounds to me...
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