Tuesday, December 13, 2011

Detroit Casino Syndicator Who Can't Get a Michigan Gambling License Reportedly Could Get Biggest Deal in Indian Gaming

Michael J. Malik, Sr., unable to get a

Michigan gaming license is about to 
get most lucrative Indian Gaming deal
Detroiter Michael J. Malik, Sr., can't obtain a gambling license from the Michigan Gaming Control Board, but leaders he's backed at the Shinnecock Indian Nation are reportedly about to award Malik's Gateway Casino Resorts with what some have suggested would be the most lucrative third-party contract in the Indian Gaming industry.

Malik and the Shinnecock have yet to receive all of the approvals they would need to develop and operate a casino off-reservation in New York.  And Malik and his partner Marian Ilitch (Mrs. Michael Ilitch), have failed to win approvals for similar projects in Michigan and California despite more than a decade trying.  In fact, it's been more than a decade since Malik was successful opening any new Indian casino.

Malik is reportedly using expected negotiations with New York Governor Andrew Cuomo to pressure members of the Shinnecock Indian Nation into accepting a contract that was reportedly drafted by his Michigan-based attorney Lance Boldrey.

It's more likely that Malik needs such agreements in hand to secure additional or new funding for the casino syndicate that's financing his schemes. You can be sure that Malik and Marian and Michael Ilitch aren't using millions of their own cash to finance the schemes.  A look at the other deals done by the Ilitches suggests theirs are all about leverage and financing, not about using cash.

Through a letter dated Dec. 12, 2011, leaders of the Shinnecock Nation have given three-day notice to tribal members that they expect to vote on Thursday, Dec 15, 2011, on matters to move forward and finalize the deal with Gateway Casino Resorts, LLC.  The letter indicated that tribal leaders have met with Elders Council, Tribal Council, and the community at large through noticed Community Meetings and attempts to suggest those meetings included discussions about issues related to the contract, gaming and the term sheet. Reports are those meetings didn't include any such discussions and that such have taken place in closed door, back room deal sessions which is typical fashion for those behind Gateway Casino Resorts.

Term Sheet: Shinnecock Nation & Gateway Casino Resorts

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certainly must reads!

Ilitch has backed loosing sports teams and pizza, but casinos in Detroit? Forbes.com 10.09.06 ● Marian Ilitch #1 on "25 Most Powerful People" to Watch 2006” global gaming business o1.oo.o5 ● My Kingdom for a Casino Forbes 05.08.06 ● Big Lagoon’s casino dream awakens north coast journal 07.28.05 ● Shinnecocks launch legal claim to Hamptons land newsday.com 06.16.05 ● Ilitch Plans to Expand Casino Empire RGTonline.com 07.05.05 ● Ilitch outbids partners MichiganDaily.com 04.14.05 ● Ilitch enmeshed in NY casino dispute detnews.com 03.20.05 ● Marian Ilitch, high roller freep.com 03.20.05 ● MGM Mirage to Decide on Offer for Casino in Detroit rgtonline.com 04.16.05 ● Secret deal for MotorCity alleged freep.com 02.15.05 ● Los Coyotes get new developer desertdispatch.com 02.08.05 Detroit casino figure to finance Barstow project LasVegasSun.com 07.07.03 ● Indian Band trying to put casino in Barstow signonSanDiego.com 06.04.03 Pizza matriarch takes on casino roles detnews.com 10.23.02 ● Vanderbilt gets short straw in negotiations for a casino Lansing Journal 10.06.02 ● Indians aim to drive family from tribe in vicious dispute san diego union tribune 04.09.00 ●Malik owns 2000 Michigan Quarter Horse of the Year Michigan.gov 01.01.00 ● Detroit Team to run Michigan’s newest Indian casino detnews.com 05.23.99 Tiger ties tangle Marian Ilitch detnews.com 04.29.99 ● Three investors must sell their Detroit casino interests gamblingmagazine.com 04.25.99 ● Partners’ cash revived election; They say money was crucial to Prop-E detnews.com 04.25.99 Investors have troubled histories las vegas review journal 04.27.99 ● Investor served probation for domestic assault on 12 year old boy detnews.com 04.25.99 Can a pair win a jackpot?: local men hope to... crainsdetroit.com 03.17.97

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