Casino news source: Commercial Property News Online - http://www.cpnonline.com
$50M Upgrade of Minnesota Casino to Get Underway
May 22, 2007
By Barbra Murray, Contributing Editor
Ground is set to break on the $50 million expansion of Treasure Island Resort & Casino, a gaming and hospitality property in Welch, Minn., about an hour outside of Minneapolis. The casino's owner and operator, the Prairie Island Indian Community, plans to kick off construction on June 1 for the addition of two hotel wings and two entertainment facilities.
Located on the banks of the Mississippi River, Treasure Island got its start in 1984 as a 30,000-square-foot bingo operation. The property expanded over the years and in 1991, officially debuted as a resort following a $20 million expansion and redesign that created a 250-room hotel. Treasure Island's most recent upgrade involved a $34 million project that added 200,000 square feet to the casino, including a 70,000-square-foot office space and a 60,000-square-foot warehouse. A 137-slip marina is also part of the property.
The new renovation endeavor will bring 230 more hotel rooms, for a total of 480, a 30,000-square-foot event center with a 2,800-seat showroom, and a family fun center. The hotel rooms will be in two wings linked by a sky bridge. RSP Architects is behind the design of the additions, and Knutson Construction has been tapped to handle building activity. The Prairie Island Indian Community decided to expand its facilities again due to a strong demand in the area for convention locales; Treasure Island is the only casino resort in southern Minnesota. Construction is on schedule to reach completion in the fall of 2008.
"For the last two years we have maintained a 98 percent occupancy rate," Treasure Island marketing director Bryan Prettyman, told CPN this afternoon. "Last year we started tracking turn-aways and we documented 45,000 rooms that were turned away; and those were just transient visitors, not convention groups."
The expansion of casinos appears to be a cross-country trend, as several projects have been announced or have kicked off even within the last few months. Mohegan Sun at Pocono Downs in Wilkes-Barre, Pa., broke ground earlier this month on a $180 million casino and entertainment complex; and in March, Coachella, Calif.'s Spotlight 29 Casino broke ground on a $100 million project that will create an upscale hotel and spa, and a four-story parking facility.
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