The tribe ultimately hopes to use proceeds from the casino for tribal social, health, education and economic-development projects, said Tribal Chairman Darrell Hillaire. The company and Wells Fargo bank financed the project. Merit will get 18 percent of the net proceeds of the casino under a five-year management agreement, which includes a two-year renewal clause. This time around, the tribe has turned to a professional management company, the Merit Management Group of Chicago. Silver Reef is the second casino opened by the tribe the first closed in 1997 after losing $2 million. LUMMI NATION - This seafaring tribe is betting the second try will be the charm as it opens its $20 million Silver Reef Casino today with hopes of new economic opportunity.
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