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River Rock drops plan for $300 million casino resort

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October 2, 2008

SAN FRANCISCO - The Dry Creek Pomo tribe announced yesterday it has terminated plans to build a $300 million Tuscan-themed casino resort in Alexander Valley due to the tight credit market. The plan included a 255-room resort hotel with meeting rooms, spa, restaurants, shops, gardens and terrace plaza.

A statement issued by the tribe said, "As current disruptions in the credit markets do not permit completion of this financing at this time, the Authority has decide to terminate the offer to purchase and to postpone the other transaction until the market conditions improve."

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