Poarch Band of Creek Indians Invest in Greyhound Tracks

Poarch Band of Creek Indians Invest in Greyhound Tracks

Date:8/23/2009 12:21:00 AM

ATMORE, Ala., Aug. 22 // -- PCI Gaming Authority, a wholly owned entity of the Poarch Band of Creek Indians, today announced that it will make a substantial investment in two pari-mutuel greyhound tracks. PCI will invest in Mobile Greyhound Park located in Theodore, AL and Pensacola Greyhound Track located in Pensacola, FL. The transaction is pending final approval by the respective regulatory bodies governing the two race tracks.

Both Mobile Greyhound Park and Pensacola Greyhound Track have been owned and operated for many years by a partnership comprised of several local families. These families will retain interest in the respective tracks and will partner with PCI in the ownership of these facilities. The new owning partnerships will be Mobile Greyhound Racing, LLP and Pensacola Greyhound Racing, LLP.

Jay Dorris, President of PCI Gaming, noted, "This new venture will keep jobs in the Gulf Coast region and will preserve an entertainment tradition that is important to our area. The families who have owned the race tracks for more than thirty years have deep and important ties to their community. We are pleased to be their partners and excited about what PCI Gaming can add to these great businesses."

The employment base at these greyhound race tracks is approximately 300 people. Dorris says he expects to retain those current positions. Additionally, with the substantial capital investments PCI Gaming plans to make to both venues, Dorris says he fully expects the employment base to grow.

The purchase of the race tracks by PCI Gaming is the first foray in to non-Indian gaming by the Poarch Band of Creek Indians. The race tracks will remain truly commercial interest that are taxed and regulated by the respective state and local governing bodies. Dorris said, "It is vitally important, especially during these tough economic times, that counties and states continue to build a tax base. Both of these businesses will be valuable sources of tax revenue, and they will continue to provide crucial employment opportunities."

Currently, PCI Gaming employs 1,600 people working at 3 different sites in Alabama; The Wind Creek Hotel and Casino, The Riverside Casino in Wetumpka, and the Tallapoosa Casino in Montgomery. Tribal businesses paid more than $10.3 million in payroll inventory and other taxes last year.

Speaking on behalf of the legacy families owning both pari-mutuel tracks, Joe Morrison, President of Pensacola Greyhound Track said, "We are pleased and excited to partner with the Poarch Band of Creek Indians to invest in the growth, stability, and continuity of these businesses. The Poarch Band of Creek Indians is comprised of many families who live, work, and recreate in our area. The Pensacola Mobile corridor is fortunate to have the Poarch Band of Creek Indians as a part of our community, and our companies are fortunate to have reached an agreement with them to invest in our partnership. Our plan is to have a long and fruitful relationship with the Poarch Band of Creek Indians. And we believe it will be one that benefits all of our families and both of these great communities."