Eddy’s Lake Mille Lacs Resort will undergo total overhaul in 2014; Points to Strong Future for Lake, Region

Onamia, Minn. – January 7, 2014 – Less than ten months after announcing that it had purchased more than half the hotel rooms in St. Paul, the Mille Lacs Band of Ojibwe’s Corporate Ventures today announced another significant investment – this one a major redevelopment of an existing asset in its own backyard.

Joe Nayquonabe Jr., Commissioner of Corporate Affairs for the Mille Lacs Band of Ojibwe, announced that the Band will redevelop Eddy’s Lake Mille Lacs Resort into a premier resort and restaurant property on the lake.

“As a part of our vision for economic diversification, the Corporate Ventures is charged with identifying new potential investments, as well as looking critically at existing assets to maximize their value and productivity,” Nayquonabe said. “From our casinos to our hotels and restaurants, our guests have come to expect a premier experience from our brands, and we saw an opportunity to refresh the Eddy’s property to better deliver on those expectations.”

The announcement comes at a time when critics are speculating about the future of the lake. However, Nayquonabe says the proposed redevelopment project is a significant investment that demonstrates the Band’s confidence in the future of the lake.

“The economy of the entire region revolves around Lake Mille Lacs, and Eddy’s resort is no different,” Nayquonabe said. “It is our goal to ensure the quality of the lake for generations to come. The fact that we are making a significant investment in the renovation of our lake resort indicates how strongly we believe in the future of the lake.”

The Corporate Ventures of the Mille Lacs Band of Ojibwe recently received approval from the Mille Lacs County Board on a redevelopment plan for Eddy’s Lake Mille Lacs Resort. The plans include razing the current structures and redeveloping Eddy’s into a world-class destination resort and restaurant on Lake Mille Lacs.

The approved plans include a refresh of the whole property, including guest rooms, amenities, meetings spaces and a restaurant. The plan also calls for moving the parking lot away from the water to preserve the lake shore and maximize the views of the lake frontage.

“By improving the customer experience and boosting tourism, this project will be a win-win for the Mille Lacs Band and the tourism industry in East Central Minnesota,” Nayquonabe said.

About the Corporate Ventures of the Mille Lacs Band of Ojibwe Indians
The Corporate Ventures of the Mille Lacs Band of Ojibwe Indians manages all the Band’s businesses, including Grand Casino Mille Lacs, Grand Casino Hinckley, the Crowne Plaza Riverfront Hotel and the DoubleTree Hilton in St. Paul, Minn., and other Band-owned businesses such as a cinema, a grocery store, gas/convenience stores, a golf course, wastewater treatment plant and a print shop. It also oversees certain amount of the Band’s investments and considers new business opportunities to provide economic support for the Band’s future. The Corporate Ventures has over 3,600 employees and its board of directors is comprised of five members, who guide the business and investment decisions for the Band.

About the Mille Lacs Band of Ojibwe
Mille Lacs Reservation is located in East Central Minnesota and is the perpetual home of the Mille Lacs Band of Ojibwe. More than 2,300 of the band’s 4,300 members live within reservation boundaries. The Band supports its members with a variety of services for economic, social and cultural advancement, including health services, early childhood and youth centers and economic development planning.

Media Contacts:
Sarah Barten

Darin Broton