By getting the constitutional amendment passed and securing one of the 4 licenses in Arkansas, John Berrey and the DDA created out of thin air long term equity value for the Quapaw Nation to the tune of $500 million.
Because of the vision and perseverance of John Berrey the Quapaw Nation will be the beneficiary of hundreds of millions of dollars for decades to come. The Saracen asset could be sold today for a profit, but the real value will be created once construction is complete and the property is up and running.
It successfully diversifies the Quapaw gaming business, but, while this may not be appreciated by those outside the gaming industry and the financial markets (thankfully something that John Berrey understands intimately) the value of having a commercial asset like Saracen in the portfolio is enormous. It provides a vehicle and a pathway to deleverage, lower interest costs, and increase free cash flow back to the tribe for generations.