Jamul Indian Village and its partner Penn National Gaming, Inc., will open the doors to the tribal casino near San Diego on October 10.
Gov. Jerry Brown approved the tribe's 25-year gaming compact between California and Jamul Indian Village on August 4, 2016, reported timesofsandiego.com.
The gaming facility will host 1,700 slot machines, 43 live table games and eight dining and entertainment venues.
Penn National developed Hollywood Casino Jamul on behalf of the Jamul Indian Village of California. In June, the parties received final approval from the National Indian Gaming Commission (NIGC) for Penn National to manage casino operations.
The tribe also intends to proceed with the approximately $460 million refinancing of the project, which was recently the subject of a declination letter from the NIGC.
"We are grateful to the Jamul Indian Village for giving us the opportunity to build this spectacular regional entertainment destination and are honored to serve as the manager of their facility and to help them realize their goal of becoming economically self-sufficient," Timothy J. Wilmott, president and CEO of Penn National, said. "Hollywood Casino, which created more than 1,200 construction jobs and approximately 1,000 permanent jobs, is the closest gaming facility to downtown San Diego and we look forward to providing our guests an unparalleled entertainment, gaming and dining experience."
Conveniently located on State Route 94 approximately 20 miles from downtown, Hollywood Casino Jamul – San Diego features an earth tone color palette and downcast lighting, allowing it to blend better with the surrounding area. The facility also features an eight-story below ground parking garage that accommodates 1,800 vehicles and eight dining and entertainment venues, including:
• Tony Gwynn’s Sports Pub - San Diego-legend Tony Gwynn’s first restaurant, featuring memorabilia from his collegiate and professional baseball careers;
• Final Cut Steak & Seafood – A contemporary American steakhouse serving USDA Wagyu and Prime Beef, fresh local seafood, and an extensive wine list;
• Loft 94 – A unique indoor/outdoor casual restaurant and beer garden with 48 rotating craft beers on tap emphasizing San Diego’s finest breweries;
• Emerald Chinese Cuisine – San Diego’s premiere dim sum and Cantonese style restaurant is bringing their popular dishes to East County for the first time;
• Tres Taqueria – A local legend featuring some of southern California’s best tacos and burritos;
• Pizza Port – Die-hard fans of this San Diego County institution can now grab a slice at Hollywood Casino Jamul – San Diego.
"On behalf of our more than 1,000 team members – the vast majority of whom were hired locally – we are truly excited this day has finally arrived and we can’t wait to open our doors and begin providing world class entertainment and customer service," said Richard St. Jean, General Manager of Hollywood Casino Jamul – San Diego. "I want to thank the Jamul Indian Village for entrusting my team with this responsibility. We are committed to working to realize the full promise of this economic engine."
Pursuant to the NIGC’s authorization, Penn National will serve as the manager of Hollywood Casino Jamul -- San Diego for an initial term of 7 years and will earn a fee of 30 percent of net revenue (earnings before taxes as defined by the NIGC) for the management of the facility, as well as a licensing fee of 2 percent of gross revenue for the use of the Hollywood brand and marketing services. The approximately $460 million refinancing, to be obtained by an affiliate of JIV, is expected to close shortly after the facility opens and is anticipated to cover development costs (including those advanced by Penn National), retirement of tribal debt, working capital and financing costs. Penn National will continue to hold approximately $125 million of the refinancing debt, which is expected to accrue interest at a rate of LIBOR plus 8.5 percent.